First Quantum Minerals Ltd. (TSE:FM) Receives Consensus Rating of “Hold” from Analysts

First Quantum Minerals Ltd. (TSE:FM) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$34.56.

Several equities analysts have weighed in on FM shares. Canaccord Genuity Group reduced their price objective on First Quantum Minerals from C$39.00 to C$38.00 in a report on Tuesday, July 18th. BMO Capital Markets cut their price target on First Quantum Minerals from C$36.00 to C$35.00 in a research note on Wednesday, July 26th. JPMorgan Chase & Co. dropped their price objective on shares of First Quantum Minerals from C$29.00 to C$28.00 in a report on Friday, July 14th. Raymond James lifted their target price on shares of First Quantum Minerals from C$32.00 to C$35.00 in a research note on Wednesday, August 16th. Finally, Stifel Nicolaus cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and set a C$39.00 price target on the stock. in a research note on Tuesday, August 22nd.

Insider Activity

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 55,647 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of C$33.38, for a total transaction of C$1,857,496.86. 19.76% of the stock is owned by corporate insiders.

First Quantum Minerals Price Performance

FM opened at C$37.09 on Friday. First Quantum Minerals has a 1 year low of C$20.11 and a 1 year high of C$39.13. The company has a debt-to-equity ratio of 65.56, a current ratio of 1.70 and a quick ratio of 1.41. The company has a market capitalization of C$25.71 billion, a price-to-earnings ratio of 48.17, a P/E/G ratio of -1.28 and a beta of 2.20. The firm’s fifty day moving average price is C$34.59 and its two-hundred day moving average price is C$32.03.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, July 25th. The company reported C$0.15 EPS for the quarter, missing the consensus estimate of C$0.20 by C($0.05). The firm had revenue of C$2.22 billion for the quarter, compared to the consensus estimate of C$2.27 billion. First Quantum Minerals had a return on equity of 3.29% and a net margin of 5.88%. As a group, analysts anticipate that First Quantum Minerals will post 1.3623133 earnings per share for the current fiscal year.

First Quantum Minerals Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.08 per share. This represents a yield of 0.2%. The ex-dividend date of this dividend is Friday, August 25th. First Quantum Minerals’s payout ratio is currently 27.27%.

First Quantum Minerals Company Profile

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, silver, gold, 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.