First Quantum Minerals (TSE:FM) Price Target Lowered to C$21.50 at Canaccord Genuity Group

First Quantum Minerals (TSE:FM) had its target price dropped by research analysts at Canaccord Genuity Group from C$22.00 to C$21.50 in a research note issued on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 17.68% from the company’s current price.

Several other research analysts have also commented on FM. Royal Bank of Canada upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$17.00 to C$18.00 in a report on Monday, March 4th. Barclays lifted their price target on First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Stifel Nicolaus set a C$14.00 price target on First Quantum Minerals and gave the stock a “hold” rating in a report on Tuesday, March 26th. Bank of America lifted their price target on First Quantum Minerals from C$16.00 to C$17.00 in a report on Tuesday, April 9th. Finally, TD Securities lifted their price target on First Quantum Minerals from C$14.50 to C$15.50 and gave the stock a “hold” rating in a report on Monday, March 4th. 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, the company presently has an average rating of “Hold” and a consensus target price of C$16.96.

First Quantum Minerals Trading Up 12.5 %

Shares of FM stock opened at C$18.27 on Thursday. The stock’s fifty day moving average is C$14.31 and its two-hundred day moving average is C$15.00. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. The firm has a market capitalization of C$15.23 billion, a P/E ratio of -9.77, a PEG ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$39.13.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data 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). The firm had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. Research analysts expect that First Quantum Minerals will post 0.7906736 earnings per share 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.