First Quantum Minerals (TSE:FM – Free Report) had its price objective cut by Barclays from C$18.00 to C$17.00 in a report released on Wednesday, BayStreet.CA reports. They currently have an equal weight rating on the stock.
Other research analysts also recently issued reports about the company. CIBC lifted their target price on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$19.00 to C$26.00 in a report on Wednesday, June 26th. Jefferies Financial Group boosted their price objective on First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Canaccord Genuity Group boosted their price objective on First Quantum Minerals from C$22.00 to C$25.00 in a research note on Monday, July 22nd. Finally, Morgan Stanley boosted their price objective on First Quantum Minerals from C$19.40 to C$20.20 in a research note on Thursday, September 19th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Hold” and an average target price of C$20.59.
Read Our Latest Research Report on First Quantum Minerals
First Quantum Minerals Trading Up 4.8 %
First Quantum Minerals (TSE:FM – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.05) by C$0.02. The firm had revenue of C$1.68 billion for the quarter, compared to the consensus estimate of C$1.42 billion. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. As a group, sell-side analysts predict that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Senior Officer Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of C$16.54, for a total transaction of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. Corporate insiders own 19.35% 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.
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