Brokerages Set First Quantum Minerals Ltd. (TSE:FM) Target Price at C$21.57

Shares of First Quantum Minerals Ltd. (TSE:FM) have received an average recommendation of “Hold” from the seventeen research firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$21.57.

Several equities analysts recently commented on FM shares. Jefferies Financial Group dropped their target price on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Barclays decreased their target price on First Quantum Minerals from C$25.00 to C$23.40 in a research note on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their target price for the company from C$24.00 to C$20.00 in a research report on Thursday, January 16th.

First Quantum Minerals Stock Performance

Shares of FM opened at C$17.25 on Wednesday. First Quantum Minerals has a 1 year low of C$12.77 and a 1 year high of C$21.45. The stock has a market capitalization of C$9.79 billion, a PE ratio of -6.38, a PEG ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a 50-day simple moving average of C$18.77 and a 200-day simple moving average of C$18.18.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned ($0.37) earnings per share. On average, analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles Kevin Mcarthur purchased 25,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of C$17.23 per share, for a total transaction of C$430,842.13. Also, Director Simon John Scott acquired 1,397 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average price of C$18.57 per share, with a total value of C$25,942.29. 19.35% of the stock is owned by insiders.

About First Quantum Minerals

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.