First Quantum Minerals (TSE:FM – Free Report) had its price objective upped by CIBC from C$15.00 to C$18.00 in a report published on Thursday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.
A number of other research analysts have also issued reports on FM. JPMorgan Chase & Co. reduced their target price on shares of First Quantum Minerals from C$18.00 to C$17.00 and set a neutral rating on the stock in a report on Monday, May 27th. Barclays increased their price objective on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an equal weight rating in a report on Tuesday, April 16th. National Bankshares upgraded shares of First Quantum Minerals from a sector perform rating to an outperform rating and increased their price objective for the stock from C$15.00 to C$16.50 in a report on Friday, March 1st. Morgan Stanley increased their price objective on shares of First Quantum Minerals from C$18.90 to C$19.80 in a report on Wednesday, May 8th. Finally, BMO Capital Markets lowered shares of First Quantum Minerals from an outperform rating to a market perform rating and increased their price objective for the stock from C$17.00 to C$19.00 in a report on Tuesday, May 21st. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals presently has an average rating of Hold and an average target price of C$18.66.
Read Our Latest Stock Analysis on FM
First Quantum Minerals Price Performance
First Quantum Minerals (TSE:FM – Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). The firm had revenue of C$1.40 billion during the quarter, compared to analysts’ expectations of C$1.25 billion. First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. As a group, research analysts forecast that First Quantum Minerals will post 1.0067358 earnings per share for the current fiscal year.
Insider Transactions at First Quantum Minerals
In other news, Senior Officer Zenon Wozniak sold 49,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total transaction of C$885,022.50. Corporate insiders own 16.10% 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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