TD Securities Trims First Quantum Minerals (TSE:FM) Target Price to C$50.00

First Quantum Minerals (TSE:FMGet Rating) had its price objective decreased by research analysts at TD Securities from C$52.00 to C$50.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 41.16% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays lifted their price objective on First Quantum Minerals from C$23.00 to C$27.00 and gave the stock an “underperform” rating in a research note on Thursday, April 21st. BMO Capital Markets raised their price objective on First Quantum Minerals from C$39.00 to C$41.00 in a research report on Monday, April 18th. Jefferies Financial Group upped their price objective on shares of First Quantum Minerals from C$50.00 to C$53.00 in a report on Wednesday, March 9th. Scotiabank upped their target price on First Quantum Minerals from C$43.00 to C$50.00 in a research report on Wednesday, April 13th. Finally, JPMorgan Chase & Co. reduced their price objective on First Quantum Minerals from C$36.00 to C$35.00 in a research note on Thursday, February 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$39.75.

Shares of FM traded up C$1.59 during trading hours on Wednesday, reaching C$35.42. 1,589,954 shares of the company traded hands, compared to its average volume of 1,978,410. The stock’s fifty day moving average is C$39.36 and its 200 day moving average is C$33.30. The company has a debt-to-equity ratio of 80.46, a quick ratio of 1.48 and a current ratio of 2.34. First Quantum Minerals has a 1-year low of C$20.67 and a 1-year high of C$45.38. The stock has a market cap of C$24.30 billion and a P/E ratio of 23.36.

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 for the quarter, missing analysts’ consensus estimates of C$0.65 by C($0.10). The business had revenue of C$2.60 billion during the quarter, compared to the consensus estimate of C$2.54 billion. On average, equities research analysts predict that First Quantum Minerals will post 3.2580843 EPS for the current year.

In other news, Director G. Clive Newall sold 2,551 shares of the business’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of C$42.50, for a total transaction of C$108,417.50. Following the completion of the sale, the director now owns 2,193,461 shares of the company’s stock, valued at approximately C$93,222,092.50. Also, Senior Officer Hannes Meyer sold 31,765 shares of the business’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of C$35.78, for a total value of C$1,136,662.88. Following the transaction, the insider now owns 89,463 shares of the company’s stock, valued at C$3,201,299.26. Insiders have sold a total of 292,201 shares of company stock worth $11,371,329 in the last 90 days.

About First Quantum Minerals (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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