First Quantum Minerals (TSE:FM) Stock Rating Upgraded by Barclays

Barclays upgraded shares of First Quantum Minerals (TSE:FM) from an equal weight rating to an overweight rating in a report published on Tuesday morning, MarketBeat.com reports.

A number of other brokerages have also issued reports on FM. JPMorgan Chase & Co. dropped their price target on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. National Bankshares boosted their target price on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Cormark reduced their price target on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on 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, Canaccord Genuity Group upped their price objective on First Quantum Minerals from C$22.00 to C$25.00 in a research note on Monday, July 22nd. Ten 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 presently has an average rating of “Hold” and a consensus target price of C$20.72.

First Quantum Minerals Price Performance

Shares of TSE FM opened at C$17.60 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$20.76. The business has a 50 day moving average price of C$17.69 and a two-hundred day moving average price of C$17.41. The firm has a market cap of C$14.68 billion, a PE ratio of -6.80, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insiders Place Their Bets

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

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.