First Quantum Minerals (TSE:FM) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of First Quantum Minerals (TSE:FM) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

FM has been the topic of several other reports. National Bankshares dropped their target price on shares of First Quantum Minerals from C$25.50 to C$24.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays cut their price objective on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Royal Bank of Canada increased their target price on First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Scotiabank decreased their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, TD Securities lifted their target price on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, First Quantum Minerals presently has an average rating of “Moderate Buy” and a consensus target price of C$21.77.

First Quantum Minerals Price Performance

Shares of FM stock opened at C$16.56 on Wednesday. The company’s 50-day simple moving average is C$18.63 and its two-hundred day simple moving average is C$18.74. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. First Quantum Minerals has a one year low of C$13.81 and a one year high of C$23.28. The company has a market capitalization of C$9.40 billion, a P/E ratio of -6.12, a P/E/G ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter in the prior year, the company posted ($0.37) EPS. As a group, equities analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Activity

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Alison Cheryl Beckett acquired 1,388 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was acquired at an average price of C$19.25 per share, for a total transaction of C$26,719.00. Corporate insiders own 19.35% of the company’s stock.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.