First Quantum Minerals (TSE:FM) Upgraded by Citigroup to Buy

First Quantum Minerals (TSE:FM) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has a C$26.00 target price on the stock, up from their previous target price of C$14.00. Citigroup’s price objective points to a potential upside of 51.78% from the company’s previous close.

Several other research analysts have also commented on FM. TD Securities boosted their price objective on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Jefferies Financial Group reduced their price objective on shares of First Quantum Minerals from C$20.00 to C$19.50 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of First Quantum Minerals from C$18.90 to C$19.80 in a research note on Wednesday, May 8th. National Bankshares upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$15.00 to C$16.50 in a research note on Friday, March 1st. Finally, CIBC upped their price target on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the company a “neutral” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$18.69.

First Quantum Minerals Trading Up 0.3 %

TSE:FM opened at C$17.13 on Thursday. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68. The firm has a market cap of C$14.28 billion, a P/E ratio of -7.42, a P/E/G ratio of -1.28 and a beta of 1.96. The firm has a 50-day simple moving average of C$17.36 and a 200-day simple moving average of C$14.32. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C($0.19) by C($0.08). The firm had revenue of C$1.40 billion for the quarter, compared to the consensus estimate of C$1.25 billion. First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. Equities analysts anticipate that First Quantum Minerals will post 1.0067358 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Zenon Wozniak sold 49,250 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total value of C$885,022.50. Insiders own 16.10% of the company’s stock.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.