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

First Quantum Minerals (TSE:FM) had its price objective hoisted by equities research analysts at Scotiabank from C$22.50 to C$24.00 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 11.78% from the company’s current price.

A number of other analysts have also recently issued reports on FM. Morgan Stanley dropped their price objective on First Quantum Minerals from C$19.70 to C$19.40 in a report on Wednesday, April 9th. Canaccord Genuity Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 16th. Raymond James upped their target price on shares of First Quantum Minerals from C$20.00 to C$21.00 in a report on Friday, April 4th. Stifel Canada upgraded shares of First Quantum Minerals to a “hold” rating in a research note on Wednesday, March 19th. Finally, Barclays boosted their price target on shares of First Quantum Minerals from C$21.40 to C$21.60 in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$22.28.

First Quantum Minerals Stock Performance

FM traded up C$0.44 during trading on Monday, hitting C$21.47. 918,992 shares of the company traded hands, compared to its average volume of 2,582,093. First Quantum Minerals has a one year low of C$13.81 and a one year high of C$23.28. The stock’s fifty day moving average is C$19.11 and its 200 day moving average is C$19.12. 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 firm has a market cap of C$12.19 billion, a P/E ratio of -7.93, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insider Activity

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

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.