First Quantum Minerals (TSE:FM) PT Lowered to C$45.00

First Quantum Minerals (TSE:FMGet Rating) had its price objective lowered by Raymond James from C$50.00 to C$45.00 in a report published on Friday, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock. Raymond James also issued estimates for First Quantum Minerals’ FY2022 earnings at $3.74 EPS, Q2 2023 earnings at $0.80 EPS, Q4 2023 earnings at $0.85 EPS and FY2023 earnings at $3.25 EPS.

FM has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their target price on First Quantum Minerals from C$46.00 to C$45.00 in a research note on Thursday, April 28th. Morgan Stanley cut First Quantum Minerals from an overweight rating to an equal weight rating and lowered their target price for the stock from C$39.00 to C$36.00 in a research note on Thursday, March 24th. CIBC increased their target price on First Quantum Minerals from C$40.00 to C$42.50 in a research note on Monday, May 2nd. The Goldman Sachs Group cut First Quantum Minerals to a hold rating and set a C$42.00 target price for the company. in a research note on Wednesday, March 9th. Finally, TD Securities decreased their price target on shares of First Quantum Minerals from C$52.00 to C$50.00 and set a buy rating for the company in a research note on Wednesday, April 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of C$40.13.

Shares of TSE:FM opened at C$32.48 on Friday. The company has a market capitalization of C$22.47 billion and a price-to-earnings ratio of 16.18. The firm’s 50 day simple moving average is C$38.95 and its 200 day simple moving average is C$33.85. The company has a debt-to-equity ratio of 65.34, a current ratio of 2.35 and a quick ratio of 1.58. First Quantum Minerals has a fifty-two week low of C$20.67 and a fifty-two week high of C$45.38.

First Quantum Minerals (TSE:FMGet Rating) last posted its earnings results 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 analyst estimates of C$2.54 billion. Equities research analysts expect that First Quantum Minerals will post 3.16 earnings per share for the current year.

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, May 6th. Shareholders of record on Thursday, April 14th were issued a dividend of $0.005 per share. This represents a yield of 0.01%. The ex-dividend date of this dividend was Wednesday, April 13th. First Quantum Minerals’s dividend payout ratio is 0.40%.

In other news, Senior Officer Hannes Meyer sold 31,765 shares of First Quantum Minerals stock in a transaction on Thursday, February 17th. The stock was sold at an average price of C$35.78, for a total transaction of C$1,136,662.88. Following the completion of the sale, the insider now owns 89,463 shares of the company’s stock, valued at C$3,201,299.26. Also, Director G. Clive Newall sold 43,949 shares of First Quantum Minerals stock in a transaction on Friday, March 18th. The stock was sold at an average price of C$42.00, for a total value of C$1,845,805.26. Following the sale, the director now directly owns 2,193,461 shares of the company’s stock, valued at approximately C$92,122,729.85. Insiders have sold a total of 292,201 shares of company stock valued at $11,371,329 in the last ninety days.

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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