First Quantum Minerals (TSE:FM) Raised to Hold at Desjardins

First Quantum Minerals (TSE:FM) was upgraded by investment analysts at Desjardins to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other research analysts also recently commented on the company. Morgan Stanley lifted their price target on First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Scotiabank cut their target price on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. TD Securities increased their price target on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Raymond James boosted their price objective on shares of First Quantum Minerals from C$20.00 to C$21.00 in a report on Friday. Finally, Canaccord Genuity Group cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their target price for the company from C$24.00 to C$20.00 in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, First Quantum Minerals has a consensus rating of “Hold” and a consensus price target of C$21.57.

First Quantum Minerals Trading Down 11.6 %

First Quantum Minerals stock opened at C$16.00 on Thursday. First Quantum Minerals has a 12 month low of C$13.81 and a 12 month high of C$23.28. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The stock has a market cap of C$9.08 billion, a P/E ratio of -5.91, a P/E/G ratio of -1.28 and a beta of 1.73. The company’s fifty day simple moving average is C$19.20 and its 200-day simple moving average is C$18.72.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, February 11th. The company reported C$0.04 earnings per share for the quarter, beating the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter last year, the firm earned ($0.37) EPS. As a group, sell-side analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett bought 1,388 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were bought at an average price of C$19.25 per share, for a total transaction of C$26,719.00. Also, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. Company insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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.