Canaccord Genuity Group Boosts First Quantum Minerals (TSE:FM) Price Target to C$22.00

First Quantum Minerals (TSE:FM) had its target price lifted by equities research analysts at Canaccord Genuity Group from C$21.00 to C$22.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s price target points to a potential upside of 48.85% from the stock’s previous close.

Several other research firms have also recently weighed in on FM. Bank of America upped their price objective on First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Citigroup lowered their price objective on shares of First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating on the stock in a report on Wednesday, January 10th. Scotiabank reduced their target price on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating for the company in a report on Thursday, February 22nd. TD Securities lifted their price target on shares of First Quantum Minerals from C$14.50 to C$15.50 and gave the company a “hold” rating in a research note on Monday, March 4th. Finally, National Bank Financial upgraded shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a research note on Thursday, February 29th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and an average target price of C$16.02.

First Quantum Minerals Stock Down 4.5 %

Shares of FM traded down C$0.69 on Wednesday, hitting C$14.78. The company’s stock had a trading volume of 3,043,059 shares, compared to its average volume of 3,031,430. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21. The firm has a market capitalization of C$12.32 billion, a price-to-earnings ratio of -7.90, a P/E/G ratio of -1.28 and a beta of 2.01. The firm’s fifty day moving average price is C$13.65 and its 200-day moving average price is C$15.58. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$39.13.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The company had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. On average, equities research analysts expect that First Quantum Minerals will post 0.7906736 EPS for the current year.

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.