Barclays Lowers First Quantum Minerals (TSE:FM) Price Target to C$23.40

First Quantum Minerals (TSE:FM - Get Free Report) had its target price dropped by equities research analysts at Barclays from C$25.00 to C$23.40 in a note issued to investors on Thursday,BayStreet.CA reports. Barclays's price objective indicates a potential upside of 32.35% from the company's previous close.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group cut their price objective on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. National Bankshares increased their price objective on First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Scotiabank reduced their price objective 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. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Finally, CIBC raised their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$21.47.

First Quantum Minerals Stock Performance

Shares of FM traded down C$0.51 during mid-day trading on Thursday, reaching C$17.68. 2,279,352 shares of the company's stock were exchanged, compared to its average volume of 1,979,015. The business's fifty day simple moving average is C$19.11 and its 200-day simple moving average is C$17.98. First Quantum Minerals has a 52-week low of C$10.91 and a 52-week high of C$21.45. The stock has a market capitalization of C$14.75 billion, a PE ratio of -6.83, a price-to-earnings-growth 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.

Insiders Place Their Bets

In other news, Director Simon John Scott acquired 1,397 shares of the stock in a transaction on Tuesday, December 31st. The stock was bought at an average price of C$18.57 per share, with a total value of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of First Quantum Minerals stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. 19.35% of the stock is currently owned by insiders.

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.