First Quantum Minerals (TSE:FM) Trading Up 4.4%

First Quantum Minerals Ltd. (TSE:FM)’s share price was up 4.4% on Wednesday . The stock traded as high as C$19.27 and last traded at C$19.09. Approximately 388,842 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 3,073,212 shares. The stock had previously closed at C$18.29.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered shares of First Quantum Minerals from an “outperform” rating to a “market perform” rating and lifted their target price for the company from C$17.00 to C$19.00 in a research report on Tuesday, May 21st. National Bank Financial upgraded shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a research report on Thursday, February 29th. Raymond James raised their price target on First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$19.00 to C$26.00 in a report on Wednesday. Finally, Citigroup raised First Quantum Minerals from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$14.00 to C$26.00 in a report on Thursday, June 20th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Quantum Minerals currently has an average rating of “Hold” and a consensus target price of C$19.10.

First Quantum Minerals Stock Down 1.4 %

The company has a market cap of C$16.15 billion, a P/E ratio of -8.39, a P/E/G ratio of -1.28 and a beta of 1.96. The company has a 50-day simple moving average of C$17.64 and a 200 day simple moving average of C$14.55. The company has a current ratio of 2.68, a quick ratio of 1.41 and a debt-to-equity ratio of 52.05.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.19) by C($0.08). The firm had revenue of C$1.40 billion during the quarter, compared to analysts’ expectations 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%. On average, equities analysts anticipate that First Quantum Minerals Ltd. will post 1.0067358 EPS for the current year.

Insider Buying and Selling at First Quantum Minerals

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

About First Quantum Minerals

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.