First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

First Quantum Minerals (TSE:FM) had its target price raised by Royal Bank of Canada from C$23.00 to C$24.00 in a research report report published on Wednesday,BayStreet.CA reports.

Other equities analysts have also issued reports about the company. National Bankshares upped their target price on First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays raised shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 12th. Jefferies Financial Group reduced their target price on shares of First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. CIBC increased their price target on First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$21.05.

First Quantum Minerals Stock Down 4.4 %

FM opened at C$19.83 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The firm has a market cap of C$16.54 billion, a P/E ratio of -7.66, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 52 week low of C$10.91 and a 52 week high of C$21.45. The business’s fifty day simple moving average is C$18.95 and its 200 day simple moving average is C$17.81.

Insider Buying and Selling

In related news, Director Simon John Scott acquired 1,397 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. Company insiders own 19.35% of the company’s stock.

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.