First Quantum Minerals (TSE:FM) Given New C$20.20 Price Target at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price objective lifted by equities research analysts at Morgan Stanley from C$19.40 to C$20.20 in a research note issued on Thursday, BayStreet.CA reports. Morgan Stanley’s price target points to a potential upside of 13.36% from the company’s current price.

A number of other equities analysts have also weighed in on FM. Canaccord Genuity Group lifted their price target on shares of First Quantum Minerals from C$22.00 to C$25.00 in a report on Monday, July 22nd. Jefferies Financial Group lifted their target price on shares of First Quantum Minerals from C$19.50 to C$23.00 in a report on Monday, July 8th. Citigroup upgraded shares of First Quantum Minerals from a “neutral” rating to a “buy” rating and lifted their target price for the company from C$14.00 to C$26.00 in a report on Thursday, June 20th. Raymond James lifted their target price on shares of First Quantum Minerals from C$19.00 to C$21.00 in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their target price for the company from C$19.00 to C$26.00 in a report on Wednesday, June 26th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, First Quantum Minerals has a consensus rating of “Hold” and an average price target of C$20.12.

First Quantum Minerals Stock Performance

TSE:FM traded up C$0.46 during mid-day trading on Thursday, reaching C$17.82. The stock had a trading volume of 973,939 shares, compared to its average volume of 2,700,998. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. The firm has a market capitalization of C$14.86 billion, a price-to-earnings ratio of -6.99, a PEG ratio of -1.28 and a beta of 1.72. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$34.43. The business has a 50 day simple moving average of C$16.47 and a 200 day simple moving average of C$16.40.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.02. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. The company had revenue of C$1.68 billion during the quarter, compared to analysts’ expectations of C$1.42 billion. On average, analysts expect that First Quantum Minerals will post 1.0143443 earnings per share for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. 19.35% of the stock is currently owned by company insiders.

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.