Scotiabank Issues Positive Forecast for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price objective raised by Scotiabank from C$28.00 to C$34.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities research analysts have also recently commented on FM. Morgan Stanley upped their target price on shares of First Quantum Minerals from C$24.60 to C$31.20 in a report on Wednesday, October 8th. National Bankshares increased their price target on shares of First Quantum Minerals from C$32.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Citigroup increased their price target on shares of First Quantum Minerals from C$26.00 to C$39.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group increased their price target on shares of First Quantum Minerals from C$33.00 to C$38.00 in a report on Monday, October 6th. Finally, Raymond James Financial increased their price target on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$32.51.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$31.99 on Tuesday. The company has a 50-day simple moving average of C$26.56 and a 200-day simple moving average of C$22.71. First Quantum Minerals has a one year low of C$14.41 and a one year high of C$33.88. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market capitalization of C$26.69 billion, a price-to-earnings ratio of 127.96, a PEG ratio of -1.28 and a beta of 1.58.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 8,135 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of C$22.82, for a total value of C$185,640.70. Company 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.