Brokerages Set First Quantum Minerals Ltd. (TSE:FM) Price Target at C$37.56

Shares of First Quantum Minerals Ltd. (TSE:FM) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$39.34.

A number of equities research analysts recently issued reports on the company. Citigroup lifted their target price on First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Raymond James Financial raised their price target on shares of First Quantum Minerals from C$25.00 to C$29.00 in a research note on Friday, October 10th. Scotiabank lifted their price objective on shares of First Quantum Minerals from C$35.00 to C$41.00 and gave the company a “sector perform” rating in a report on Thursday, January 8th. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$30.20 to C$33.50 in a report on Tuesday, December 16th. Finally, Barclays raised their target price on shares of First Quantum Minerals from C$38.00 to C$44.30 in a research report on Thursday, January 8th.

First Quantum Minerals Trading Down 7.7%

Shares of TSE:FM opened at C$38.49 on Friday. The firm has a market cap of C$32.11 billion, a price-to-earnings ratio of 641.50, a PEG ratio of -1.28 and a beta of 1.37. First Quantum Minerals has a 12 month low of C$14.41 and a 12 month high of C$45.17. The company’s fifty day simple moving average is C$36.47 and its 200 day simple moving average is C$30.28. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM) last released its earnings results 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 firm had revenue of C$1.87 billion for the quarter. As a group, research analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

About First Quantum Minerals

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.