CIBC Raises First Quantum Minerals (TSE:FM) Price Target to C$20.00

First Quantum Minerals (TSE:FM) had its price objective lifted by CIBC from C$18.00 to C$20.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.

FM has been the subject of a number of other reports. Cormark cut their price objective on First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating for the company in a research note on Thursday, July 25th. Scotiabank increased their price objective on shares of First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group increased their price objective on shares of First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$19.00 to C$26.00 in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Thursday, October 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$20.69.

First Quantum Minerals Trading Up 1.3 %

Shares of TSE:FM opened at C$18.61 on Wednesday. The stock has a market capitalization of C$15.52 billion, a price-to-earnings ratio of -7.19, a PEG ratio of -1.28 and a beta of 1.73. 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 stock’s 50-day simple moving average is C$17.07 and its two-hundred day simple moving average is C$17.11. First Quantum Minerals has a 52-week low of C$9.31 and a 52-week high of C$30.68.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data 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. The firm had revenue of C$1.68 billion for the quarter, compared to analysts’ expectations 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%. Analysts expect that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Transactions at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 6,323 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. In related news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals 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. Also, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. Company 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.