First Quantum Minerals (TSE:FM) Upgraded by Canaccord Genuity Group to Strong-Buy Rating

First Quantum Minerals (TSE:FM - Get Free Report) was upgraded by stock analysts at Canaccord Genuity Group from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Wednesday, April 16th,Zacks.com reports.

Other analysts also recently issued reports about the stock. 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. Raymond James boosted their price objective on First Quantum Minerals from C$20.00 to C$21.00 in a research report on Friday, April 4th. Scotiabank cut their target price on First Quantum Minerals from C$22.00 to C$21.50 and set a "sector perform" rating for the company in a research report on Thursday, January 16th. TD Securities boosted their price target on First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a "hold" rating in a report on Thursday, February 13th. Finally, Barclays cut their price objective on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and an average target price of C$21.77.

First Quantum Minerals Stock Performance

Shares of TSE FM traded up C$1.14 during midday trading on Wednesday, hitting C$17.80. 2,538,443 shares of the stock traded hands, compared to its average volume of 2,715,301. The firm has a market capitalization of C$10.10 billion, a P/E ratio of -6.58, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a one year low of C$13.81 and a one year high of C$23.28. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The firm has a 50-day moving average of C$18.47 and a two-hundred day moving average of C$18.71.

First Quantum Minerals (TSE:FM - Get Free Report) last released its quarterly earnings results 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 last year, the company posted ($0.37) earnings per share. On average, equities analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 40,000 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Charles Kevin Mcarthur purchased 25,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of C$17.23 per share, with a total value of C$430,842.13. 19.35% of the stock is owned by insiders.

About First Quantum Minerals

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.