First Quantum Minerals (TSE:FM) Trading Down 0.7%

First Quantum Minerals Ltd. (TSE:FM)’s share price dropped 0.7% on Friday . The stock traded as low as C$17.75 and last traded at C$17.82. Approximately 20,700 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 2,690,854 shares. The stock had previously closed at C$17.94.

Analyst Ratings Changes

Several research analysts recently issued reports on FM shares. Barclays upped their target price on First Quantum Minerals from C$16.00 to C$18.00 in a research note on Thursday, August 1st. Canaccord Genuity Group lifted their target price on First Quantum Minerals from C$22.00 to C$25.00 in a report on Monday, July 22nd. Royal Bank of Canada cut their target price on shares of First Quantum Minerals from C$25.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Eight Capital lifted their price objective on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research note on Thursday, July 11th. Finally, Stifel Nicolaus boosted their price target on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Hold” and a consensus target price of C$20.12.

First Quantum Minerals Price Performance

The firm has a market capitalization of C$14.78 billion, a price-to-earnings ratio of -7.04, a P/E/G ratio of -1.28 and a beta of 1.72. The company’s 50 day moving average is C$16.47 and its 200-day moving average is C$16.44. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share 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 the consensus estimate of C$1.42 billion. Equities research analysts anticipate that First Quantum Minerals Ltd. will post 1.0143443 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the company’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 insiders.

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.