JPMorgan Chase & Co. Cuts First Quantum Minerals (TSE:FM) Price Target to C$18.00

First Quantum Minerals (TSE:FMGet Free Report) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from C$20.00 to C$18.00 in a report issued on Friday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target points to a potential downside of 5.31% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. National Bankshares boosted their target price on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Eight Capital raised their target price on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research note on Thursday, July 11th. CIBC increased their price objective on First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Cormark decreased their price target on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Morgan Stanley lifted their price target on shares of First Quantum Minerals from C$19.40 to C$20.20 in a research report on Thursday, September 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$20.72.

Read Our Latest Report on First Quantum Minerals

First Quantum Minerals Stock Down 7.2 %

FM traded down C$1.48 during trading hours on Friday, hitting C$19.01. 1,430,349 shares of the company’s stock were exchanged, compared to its average volume of 2,622,445. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$20.76. The stock’s 50-day moving average is C$17.51 and its two-hundred day moving average is C$17.30. The stock has a market cap of C$15.86 billion, a price-to-earnings ratio of -7.34, a PEG ratio of -1.28 and a beta of 1.73.

Insider Activity

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. Insiders own 19.35% of the company’s stock.

About First Quantum Minerals

(Get Free Report)

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.

Further Reading

Analyst Recommendations for First Quantum Minerals (TSE:FM)

Receive News & Ratings for First Quantum Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Quantum Minerals and related companies with MarketBeat.com's FREE daily email newsletter.