Raymond James Forecasts Strong Price Appreciation for First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals (TSE:FM - Free Report) had its target price increased by Raymond James from C$20.00 to C$21.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

FM has been the topic of several other reports. Morgan Stanley upped their price target 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. Jefferies Financial Group lowered their target price on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Canaccord Genuity Group lowered shares of First Quantum Minerals from a "buy" rating to a "hold" rating and reduced their price target for the company from C$24.00 to C$20.00 in a research report on Thursday, January 16th. Royal Bank of Canada increased their price objective on First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Finally, Stifel Canada raised First Quantum Minerals to a "hold" rating in a research note on Wednesday, March 19th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals has a consensus rating of "Hold" and a consensus target price of C$21.44.

First Quantum Minerals Stock Performance

FM traded up C$1.90 during trading hours on Friday, hitting C$16.95. The stock had a trading volume of 6,857,111 shares, compared to its average volume of 2,684,688. First Quantum Minerals has a 1 year low of C$13.81 and a 1 year high of C$23.28. The company's fifty day simple moving average is C$19.04 and its 200 day simple moving average is C$18.74. The stock has a market cap of C$9.62 billion, a PE ratio of -6.26, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

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First Quantum Minerals (TSE:FM - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share for the quarter, topping 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 period in the prior year, the business earned ($0.37) earnings per share. Equities analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of the stock in a transaction that occurred 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 Charles Kevin Mcarthur bought 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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., 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.