First Quantum Minerals (TSE:FM – Get Free Report) had its target price raised by equities researchers at Morgan Stanley from C$19.80 to C$20.30 in a note issued to investors on Friday, BayStreet.CA reports. Morgan Stanley’s price target points to a potential upside of 18.51% from the company’s previous close.
FM has been the subject of a number of other research reports. Scotiabank increased their price target on First Quantum Minerals from C$18.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Thursday, May 30th. Bank of America increased their price target on First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Canaccord Genuity Group decreased their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on First Quantum Minerals from C$18.00 to C$17.00 and set a “neutral” rating for the company in a research report on Monday, May 27th. Finally, BMO Capital Markets lowered First Quantum Minerals from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from C$17.00 to C$19.00 in a research report on Tuesday, May 21st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$18.69.
View Our Latest Research Report on FM
First Quantum Minerals Trading Up 0.3 %
First Quantum Minerals (TSE:FM – Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The company had revenue of C$1.40 billion during the quarter, compared to analyst estimates of C$1.25 billion. Sell-side analysts forecast that First Quantum Minerals will post 1.0067358 earnings per share for the current 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 dated Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. Company 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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