Jefferies Financial Group Lowers First Quantum Minerals (TSE:FM) Price Target to C$22.00

First Quantum Minerals (TSE:FM) had its price objective cut by research analysts at Jefferies Financial Group from C$23.00 to C$22.00 in a research note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s target price would indicate a potential upside of 10.94% from the stock’s previous close.

Several other brokerages have also recently issued reports on FM. Morgan Stanley increased their target price on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. CIBC increased their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, National Bankshares boosted their price objective on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$21.00.

First Quantum Minerals Price Performance

Shares of FM opened at C$19.83 on Monday. 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 company has a 50 day moving average price of C$18.88 and a 200-day moving average price of C$17.77. First Quantum Minerals has a fifty-two week low of C$10.91 and a fifty-two week high of C$21.45. The stock has a market capitalization of C$16.54 billion, a PE ratio of -7.66, a PEG ratio of -1.28 and a beta of 1.73.

Insiders Place Their Bets

In other First Quantum Minerals news, Director Simon John Scott purchased 1,397 shares of the stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. 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.