First Quantum Minerals (TSE:FM) Price Target Increased to C$22.00 by Analysts at Canaccord Genuity Group

First Quantum Minerals (TSE:FM) had its price objective upped by Canaccord Genuity Group from C$21.00 to C$22.00 in a report issued on Wednesday morning, BayStreet.CA reports.

Several other research firms also recently commented on FM. CIBC dropped their price objective on First Quantum Minerals from C$15.00 to C$14.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Citigroup dropped their target price on First Quantum Minerals from C$32.00 to C$14.00 and set a neutral rating on the stock in a research report on Wednesday, January 10th. National Bankshares upgraded First Quantum Minerals from a sector perform rating to an outperform rating and increased their target price for the stock from C$15.00 to C$16.50 in a research report on Friday, March 1st. Morgan Stanley increased their target price on First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an overweight rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group upgraded First Quantum Minerals from a hold rating to a buy rating and increased their target price for the stock from C$13.00 to C$18.00 in a research report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of C$16.02.

First Quantum Minerals Price Performance

FM stock opened at C$14.78 on Wednesday. The company has a market capitalization of C$12.32 billion, a P/E ratio of -7.90, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. First Quantum Minerals has a 52-week low of C$9.31 and a 52-week high of C$39.13. The business has a 50-day simple moving average of C$13.65 and a two-hundred day simple moving average of C$15.58.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. Research analysts expect that First Quantum Minerals will post 0.7906736 EPS for the current fiscal year.

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.