First Quantum Minerals (TSE:FM) Price Target Raised to C$24.00

First Quantum Minerals (TSE:FM) had its price objective boosted by research analysts at Royal Bank of Canada from C$23.00 to C$24.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 23.52% from the stock’s current price.

FM has been the subject of a number of other research reports. Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group decreased their price target on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. National Bankshares increased 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 research note on Thursday, October 24th. Finally, Scotiabank boosted their price target on First Quantum Minerals from C$18.50 to C$23.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$21.05.

First Quantum Minerals Stock Performance

Shares of FM traded down C$0.40 during midday trading on Wednesday, reaching C$19.43. 885,953 shares of the stock were exchanged, compared to its average volume of 1,503,788. The company has a market capitalization of C$16.21 billion, a price-to-earnings ratio of -7.50, a PEG ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45. The business’s 50-day moving average price is C$18.88 and its 200 day moving average price is C$17.77.

Insider Buying and Selling at First Quantum Minerals

In related news, Director Simon John Scott acquired 1,397 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. 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.