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

Shares of First Quantum Minerals Ltd. (TSE:FM) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$37.56.

Several analysts recently weighed in on FM shares. Citigroup lifted their price objective on shares of First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Stifel Nicolaus upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$26.00 to C$38.00 in a research report on Tuesday, October 21st. Scotiabank raised their target price on First Quantum Minerals from C$35.00 to C$41.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. raised First Quantum Minerals from a “neutral” rating to an “overweight” rating and lifted their target price for the company from C$20.00 to C$42.00 in a research note on Friday, October 10th. Finally, Morgan Stanley increased their price target on First Quantum Minerals from C$30.20 to C$33.50 in a research note on Tuesday, December 16th.

First Quantum Minerals Price Performance

FM stock opened at C$40.81 on Friday. The stock’s 50 day moving average is C$35.23 and its two-hundred day moving average is C$29.68. First Quantum Minerals has a 52-week low of C$14.41 and a 52-week high of C$42.20. The company has a market capitalization of C$34.04 billion, a PE ratio of 680.17, a P/E/G ratio of -1.28 and a beta of 1.37. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

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

Insider Transactions at First Quantum Minerals

In other news, Director Charles Kevin Mcarthur bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the completion of the purchase, the director directly owned 35,000 shares of the company’s stock, valued at C$1,017,100. This represents a 40.00% increase in their position. Over the last three months, insiders acquired 10,474 shares of company stock worth $304,575. Company insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.