First Quantum Minerals (TSE:FM) Price Target Raised to C$40.00 at Desjardins

First Quantum Minerals (TSE:FM) had its price objective lifted by Desjardins from C$34.00 to C$40.00 in a report released on Monday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other equities analysts have also commented on FM. National Bankshares upped 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 research report on Wednesday, October 8th. Barclays boosted their price objective on shares of First Quantum Minerals from C$38.00 to C$44.30 in a research note on Thursday, January 8th. CIBC upped their price objective on First Quantum Minerals from C$26.00 to C$36.00 in a report on Friday, October 10th. TD Securities increased their target price on First Quantum Minerals from C$34.00 to C$41.00 in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft cut First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their target price for the company from C$35.00 to C$33.00 in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$38.56.

First Quantum Minerals Stock Performance

TSE FM opened at C$41.41 on Monday. The business’s 50-day moving average price is C$35.47 and its 200 day moving average price is C$29.88. First Quantum Minerals has a twelve month low of C$14.41 and a twelve month high of C$42.48. The company has a market capitalization of C$34.54 billion, a PE ratio of 690.17, a price-to-earnings-growth ratio of -1.28 and a beta of 1.37. The company has a current ratio of 1.80, a quick ratio of 1.41 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. The business had revenue of C$1.87 billion during the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. On average, research analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Transactions at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur acquired 10,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of C$29.06 per share, with a total value of C$290,600.00. Following the completion of the transaction, the director directly owned 35,000 shares of the company’s stock, valued at C$1,017,100. This trade represents a 40.00% increase in their position. In the last three months, insiders acquired 10,474 shares of company stock valued at $304,575. 19.35% of the stock is currently owned by corporate insiders.

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. 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.