First Quantum Minerals (TSE:FM) Price Target Raised to C$22.00 at Morgan Stanley

First Quantum Minerals (TSE:FM) had its target price boosted by Morgan Stanley from C$20.20 to C$22.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 13.40% from the stock’s current price.

A number of other research firms also recently weighed in on FM. JPMorgan Chase & Co. cut their price target on shares of First Quantum Minerals from C$20.00 to C$18.00 in a report on Friday, November 8th. National Bankshares lifted 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 report on Thursday, October 24th. CIBC lifted their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Scotiabank raised their price target on shares of First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$21.05.

First Quantum Minerals Stock Down 0.3 %

First Quantum Minerals stock opened at C$19.40 on Thursday. The company has a market capitalization of C$16.18 billion, a P/E ratio of -7.49, a P/E/G ratio of -1.28 and a beta of 1.73. The firm’s fifty day simple moving average is C$18.72 and its 200-day simple moving average is C$17.71. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 1-year low of C$10.07 and a 1-year high of C$21.45.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 45,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value 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.