First Quantum Minerals (TSE:FM) Price Target Raised to C$23.00

First Quantum Minerals (TSE:FM) had its price objective upped by Scotiabank from C$18.50 to C$23.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts have also issued reports about the stock. National Bankshares upped their price objective on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays raised First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 12th. CIBC upped their price objective on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price target on First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$21.05.

First Quantum Minerals Price Performance

The firm has a market cap of C$16.18 billion, a price-to-earnings ratio of -7.49, a P/E/G ratio of -1.28 and a beta of 1.73. The firm’s 50-day moving average is C$18.72 and its 200 day moving average is C$17.71. First Quantum Minerals has a 12-month low of C$10.07 and a 12-month high of C$21.45. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00.

Insiders Place Their Bets

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction that occurred 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. Corporate 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.