First Quantum Minerals (TSE:FM) Given New C$40.00 Price Target at Desjardins

First Quantum Minerals (TSE:FM) had its price target hoisted by stock analysts at Desjardins from C$34.00 to C$40.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ target price would indicate a potential downside of 3.89% from the company’s previous close.

A number of other research firms have also commented on FM. Stifel Nicolaus upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price target for the stock from C$26.00 to C$38.00 in a research report on Tuesday, October 21st. Raymond James Financial boosted their price target on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. National Bankshares lifted their price target on First Quantum Minerals from C$32.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their target price on First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft cut First Quantum Minerals from a “buy” rating to a “hold” rating and cut their price objective for the company from C$35.00 to C$33.00 in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$38.56.

First Quantum Minerals Price Performance

TSE:FM traded up C$0.81 during mid-day trading on Monday, reaching C$41.62. 1,348,963 shares of the stock were exchanged, compared to its average volume of 2,178,889. First Quantum Minerals has a 1-year low of C$14.41 and a 1-year high of C$42.48. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The firm has a market capitalization of C$34.72 billion, a PE ratio of 693.67, a PEG ratio of -1.28 and a beta of 1.37. The business has a fifty day moving average price of C$35.23 and a 200 day moving average price of C$29.76.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.The business had revenue of C$1.87 billion during the quarter. Research analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Transactions at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur acquired 10,000 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of C$29.06 per share, with a total value of C$290,600.00. Following the purchase, the director directly owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This trade represents a 40.00% increase in their ownership of the stock. Insiders purchased 10,474 shares of company stock worth $304,575 in the last quarter. Corporate insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.