First Quantum Minerals (OTCMKTS:FQVLF) Cut to Hold at Canaccord Genuity Group

First Quantum Minerals (OTCMKTS:FQVLFGet Rating) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Briefing.com reports.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada increased their target price on shares of First Quantum Minerals from C$39.00 to C$43.00 in a report on Thursday, February 17th. Scotiabank increased their target price on shares of First Quantum Minerals from C$43.00 to C$50.00 in a report on Wednesday, April 13th. CIBC increased their price target on shares of First Quantum Minerals from C$37.00 to C$40.00 in a research note on Thursday, January 20th. Jefferies Financial Group increased their price target on shares of First Quantum Minerals from C$50.00 to C$53.00 in a research note on Wednesday, March 9th. Finally, Canaccord Genuity Group raised their target price on shares of First Quantum Minerals from C$37.00 to C$38.00 in a research note on Wednesday, January 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Quantum Minerals has an average rating of “Buy” and a consensus price target of $40.28.

Shares of FQVLF opened at $34.00 on Tuesday. First Quantum Minerals has a 12 month low of $16.19 and a 12 month high of $37.76. The firm has a fifty day simple moving average of $30.91 and a 200 day simple moving average of $26.03. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 28.10 and a beta of 2.00. The company has a current ratio of 2.34, a quick ratio of 1.56 and a debt-to-equity ratio of 0.66.

First Quantum Minerals Company Profile (Get Rating)

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the Pyhäsalmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.

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