First Quantum Minerals Ltd. (TSE:FM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of First Quantum Minerals Ltd. (TSE:FM) have been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$33.75.

Several brokerages have issued reports on FM. Morgan Stanley upped their price objective on First Quantum Minerals from C$24.60 to C$31.20 in a research note on Wednesday, October 8th. National Bankshares raised their price objective on First Quantum Minerals from C$32.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Raymond James Financial lifted their price objective on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Scotiabank boosted their target price on shares of First Quantum Minerals from C$34.00 to C$35.00 in a research note on Tuesday, October 28th. Finally, Stifel Nicolaus upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$26.00 to C$38.00 in a research report on Tuesday, October 21st.

First Quantum Minerals Price Performance

FM opened at C$33.03 on Friday. The company has a 50-day moving average of C$30.53 and a 200-day moving average of C$25.84. The company has a market capitalization of C$27.55 billion, a P/E ratio of 550.50, a PEG ratio of -1.28 and a beta of 1.66. First Quantum Minerals has a 1-year low of C$14.41 and a 1-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.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, October 28th. The company reported C($0.02) EPS for the quarter. The company had revenue of C$1.87 billion for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. Equities analysts expect that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 10,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were purchased at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the completion of the acquisition, the director directly owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. The trade was a 40.00% increase in their position. Insiders have bought a total of 10,474 shares of company stock valued at $304,575 over the last quarter. 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.