First Quantum Minerals (TSE:FM – Get Rating) had its target price lowered by equities research analysts at Royal Bank of Canada from C$42.00 to C$33.00 in a research report issued on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 41.03% from the company’s current price.
Other research analysts have also issued reports about the stock. Barclays raised shares of First Quantum Minerals from an “underperform” rating to an “equal weight” rating and decreased their target price for the stock from C$27.00 to C$20.00 in a research note on Tuesday, July 19th. Scotiabank decreased their target price on shares of First Quantum Minerals from C$35.00 to C$33.00 in a research note on Thursday. BMO Capital Markets decreased their target price on shares of First Quantum Minerals from C$40.00 to C$38.00 in a research note on Monday, July 18th. Eight Capital lifted their price target on shares of First Quantum Minerals from C$40.00 to C$50.00 and gave the company a “market perform” rating in a research report on Thursday, April 21st. Finally, CIBC reduced their price target on shares of First Quantum Minerals from C$40.00 to C$34.00 in a research report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$34.87.
First Quantum Minerals Trading Up 9.8 %
FM opened at C$23.40 on Thursday. The company has a debt-to-equity ratio of 65.34, a current ratio of 2.35 and a quick ratio of 1.58. The company’s 50 day simple moving average is C$27.98 and its two-hundred day simple moving average is C$33.85. First Quantum Minerals has a 1-year low of C$18.67 and a 1-year high of C$45.38. The firm has a market capitalization of C$16.19 billion and a price-to-earnings ratio of 11.70.
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, 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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