Raymond James Increases First Quantum Minerals (TSE:FM) Price Target to C$50.00

First Quantum Minerals (TSE:FMGet Rating) had its price objective lifted by equities research analysts at Raymond James from C$41.00 to C$50.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 21.89% from the company’s previous close.

A number of other research firms also recently commented on FM. CIBC increased their price objective on First Quantum Minerals from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a report on Thursday, January 20th. Royal Bank of Canada set a C$39.00 target price on shares of First Quantum Minerals and gave the stock an “outperform” rating in a research report on Wednesday, February 16th. JPMorgan Chase & Co. reduced their price target on First Quantum Minerals from C$36.00 to C$35.00 in a research report on Thursday, February 17th. Jefferies Financial Group increased their price objective on First Quantum Minerals from C$50.00 to C$53.00 in a report on Wednesday, March 9th. Finally, Barclays lowered First Quantum Minerals from an “equal weight” rating to an “underperform” rating and set a C$23.00 target price for the company. in a report on Thursday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$38.45.

Shares of TSE:FM traded down C$1.13 during trading on Wednesday, reaching C$41.02. 1,371,668 shares of the company traded hands, compared to its average volume of 1,914,590. The firm has a fifty day simple moving average of C$39.21 and a 200 day simple moving average of C$32.84. The company has a quick ratio of 1.48, a current ratio of 2.34 and a debt-to-equity ratio of 80.46. First Quantum Minerals has a 1-year low of C$20.67 and a 1-year high of C$45.38. The firm has a market cap of C$28.14 billion and a P/E ratio of 27.06.

First Quantum Minerals (TSE:FMGet Rating) last released its quarterly earnings data on Tuesday, February 15th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.65 by C($0.10). The company had revenue of C$2.60 billion during the quarter, compared to analysts’ expectations of C$2.54 billion. As a group, research analysts anticipate that First Quantum Minerals will post 3.15759 EPS for the current year.

In related news, Director Philip K.R. Pascall sold 81,582 shares of First Quantum Minerals stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of C$38.64, for a total transaction of C$3,152,328.48. Following the completion of the transaction, the director now directly owns 5,872,725 shares of the company’s stock, valued at approximately C$226,922,094. Also, Senior Officer Hannes Meyer sold 31,765 shares of the business’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of C$35.78, for a total transaction of C$1,136,662.88. Following the completion of the transaction, the insider now owns 89,463 shares in the company, valued at C$3,201,299.26. Over the last three months, insiders sold 292,201 shares of company stock valued at $11,371,329.

First Quantum Minerals Company Profile (Get Rating)

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, gold, silver, 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.

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