First Quantum Minerals (TSE:FM) Given New C$24.00 Price Target at Royal Bank of Canada

First Quantum Minerals (TSE:FM - Get Free Report) had its price target boosted by investment analysts at Royal Bank of Canada from C$23.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada's price target suggests a potential upside of 20.42% from the company's previous close.

A number of other research firms have also issued reports on FM. Barclays raised shares of First Quantum Minerals from an "equal weight" rating to an "overweight" rating in a report on Tuesday, November 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 report on Thursday, October 24th. CIBC lifted their price objective on First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. Finally, Scotiabank raised their price objective on shares of First Quantum Minerals from C$18.50 to C$23.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$21.05.

First Quantum Minerals Price Performance

Shares of FM traded up C$0.10 during mid-day trading on Wednesday, hitting C$19.93. 2,243,200 shares of the company were exchanged, compared to its average volume of 1,782,068. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. First Quantum Minerals has a 1-year low of C$10.91 and a 1-year high of C$21.45. The stock has a market cap of C$16.62 billion, a price-to-earnings ratio of -7.69, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a 50 day moving average of C$18.88 and a 200-day moving average of C$17.77.

Insider Activity

In other news, Director Simon John Scott bought 1,397 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were bought at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. Insiders own 19.35% of the company's stock.

About First Quantum Minerals

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.