First Quantum Minerals (TSE:FM) Price Target Cut to C$19.40 by Analysts at Morgan Stanley

First Quantum Minerals (TSE:FM - Free Report) had its target price trimmed by Morgan Stanley from C$19.70 to C$19.40 in a research report sent to investors on Wednesday,BayStreet.CA reports.

A number of other brokerages have also recently commented on FM. TD Securities raised their price objective on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a "hold" rating in a research note on Thursday, February 13th. Stifel Canada raised shares of First Quantum Minerals to a "hold" rating in a report on Wednesday, March 19th. Jefferies Financial Group decreased 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. Canaccord Genuity Group cut First Quantum Minerals from a "buy" rating to a "hold" rating and dropped their target price for the company from C$24.00 to C$20.00 in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price target on First Quantum Minerals from C$18.00 to C$17.00 in a report on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, First Quantum Minerals has an average rating of "Hold" and an average price target of C$21.68.

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First Quantum Minerals Stock Performance

Shares of TSE:FM traded up C$0.37 during trading on Wednesday, hitting C$16.47. The stock had a trading volume of 2,859,948 shares, compared to its average volume of 2,728,844. The stock has a 50-day simple moving average of C$18.87 and a two-hundred day simple moving average of C$18.78. The stock has a market capitalization of C$9.35 billion, a price-to-earnings ratio of -6.09, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 12-month low of C$13.81 and a 12-month high of C$23.28. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, beating the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter in the previous year, the business posted ($0.37) earnings per share. On average, equities research analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

First Quantum Minerals Company Profile

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.