First Quantum Minerals (TSE:FM) Lowered to Hold Rating by Canaccord Genuity Group

First Quantum Minerals (TSE:FM - Get Free Report) was downgraded by Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$20.00 price objective on the stock, down from their prior price objective of C$24.00. Canaccord Genuity Group's target price points to a potential upside of 5.21% from the company's current price.

Several other research analysts have also commented on FM. CIBC boosted their price objective on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. Morgan Stanley increased their price objective on 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. National Bankshares boosted their target price on 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, Jefferies Financial Group decreased their price target on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$21.18.

First Quantum Minerals Stock Up 1.5 %

FM traded up C$0.28 on Thursday, hitting C$19.01. The company had a trading volume of 2,636,453 shares, compared to its average volume of 1,931,986. The stock has a market capitalization of C$15.86 billion, a price-to-earnings ratio of -7.34, a P/E/G ratio of -1.28 and a beta of 1.73. The stock has a fifty day moving average price of C$19.08 and a 200-day moving average price of C$17.92. First Quantum Minerals has a 12-month low of C$10.91 and a 12-month high of C$21.45. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35.

Insider Activity at First Quantum Minerals

In related news, Director Simon John Scott purchased 1,397 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was bought at an average cost 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 the firm's stock in a transaction that occurred 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.