First Quantum Minerals (TSE:FM) Price Target Raised to C$19.80 at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price objective upped by Morgan Stanley from C$18.90 to C$19.80 in a research note issued to investors on Wednesday, BayStreet.CA reports. Morgan Stanley’s price objective points to a potential upside of 9.76% from the company’s previous close.

Several other research firms have also issued reports on FM. Citigroup dropped their price objective on First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating for the company in a research note on Wednesday, January 10th. Scotiabank cut their price target on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating for the company in a report on Thursday, February 22nd. Barclays boosted their price target on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. National Bankshares upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$15.00 to C$16.50 in a research note on Friday, March 1st. Finally, TD Securities increased their price target on First Quantum Minerals from C$17.00 to C$18.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$16.61.

First Quantum Minerals Stock Performance

TSE:FM opened at C$18.04 on Wednesday. The firm’s 50-day moving average is C$15.32 and its 200-day moving average is C$14.18. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68. The company has a market cap of C$15.04 billion, a price-to-earnings ratio of -7.74, a PEG ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a 52-week low of C$9.31 and a 52-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 (EPS) for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The business had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.58 billion. Equities research analysts anticipate that First Quantum Minerals will post 0.9626943 earnings per share for the current year.

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, 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.