Royal Bank of Canada Boosts First Quantum Minerals (TSE:FM) Price Target to C$23.00

First Quantum Minerals (TSE:FM) had its price target upped by Royal Bank of Canada from C$22.00 to C$23.00 in a research note published on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the company. Barclays cut their target price on First Quantum Minerals from C$18.00 to C$17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Eight Capital raised their price objective on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research report on Thursday, July 11th. Canaccord Genuity Group lifted their price objective on shares of First Quantum Minerals from C$22.00 to C$25.00 in a research note on Monday, July 22nd. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$19.40 to C$20.20 in a research note on Thursday, September 19th. Finally, National Bankshares decreased their price target on shares of First Quantum Minerals from C$22.00 to C$21.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$20.83.

First Quantum Minerals Price Performance

FM stock opened at C$18.91 on Thursday. 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$15.77 billion, a price-to-earnings ratio of -7.58, a PEG ratio of -1.28 and a beta of 1.73. The company’s fifty day simple moving average is C$17.15 and its 200 day simple moving average is C$17.14. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$28.80.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total transaction of C$117,165.19. 19.35% of the stock is currently owned by company insiders.

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.