Scotiabank Has Lowered Expectations for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM - Free Report) had its target price lowered by Scotiabank from C$22.00 to C$21.50 in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities analysts have also recently issued reports on FM. Royal Bank of Canada upped their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Barclays upgraded shares of First Quantum Minerals from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, November 12th. Jefferies Financial Group reduced their price target on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Morgan Stanley upped 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 research report on Thursday, December 12th. Finally, National Bankshares lifted their target price on First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$21.18.

First Quantum Minerals Stock Up 1.5 %

Shares of FM stock traded up C$0.28 during mid-day trading on Thursday, reaching C$19.01. 2,636,453 shares of the company's stock traded hands, compared to its average volume of 1,931,986. The company's 50-day moving average price is C$19.08 and its 200-day moving average price is C$17.92. The company has a market cap of C$15.86 billion, a P/E ratio of -7.34, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 12 month low of C$10.91 and a 12 month high of C$21.45.

Insider Transactions at First Quantum Minerals

In other news, Director Simon John Scott purchased 1,397 shares of the stock in a transaction on Tuesday, December 31st. The shares were acquired 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 the 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. Corporate insiders own 19.35% of the company's stock.

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.