First Quantum Minerals (TSE:FM) Price Target Cut to C$17.00 by Analysts at Scotiabank

First Quantum Minerals (TSE:FM - Free Report) had its price objective cut by Scotiabank from C$18.50 to C$17.00 in a report issued on Monday morning, BayStreet.CA reports.

Several other analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a hold rating to a buy rating and upped their price target for the company from C$19.00 to C$26.00 in a report on Wednesday, June 26th. Citigroup raised shares of First Quantum Minerals from a neutral rating to a buy rating and upped their price target for the stock from C$14.00 to C$26.00 in a research report on Thursday, June 20th. BMO Capital Markets lowered shares of First Quantum Minerals from an outperform rating to a market perform rating and upped their price target for the stock from C$17.00 to C$19.00 in a research report on Tuesday, May 21st. Cormark dropped their price target on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a buy rating for the company in a research report on Thursday, July 25th. Finally, Raymond James upped their price target on shares of First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of C$19.91.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock traded up C$0.15 on Monday, reaching C$16.77. 1,472,433 shares of the stock were exchanged, compared to its average volume of 2,844,061. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$37.23. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 54.64. The business has a fifty day moving average price of C$17.08 and a two-hundred day moving average price of C$15.89. The firm has a market capitalization of C$13.99 billion, a PE ratio of -6.50, a PEG ratio of -1.28 and a beta of 1.75.

First Quantum Minerals (TSE:FM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C($0.05) by C$0.02. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. The business had revenue of C$1.68 billion for the quarter, compared to analyst estimates of C$1.42 billion. As a group, research analysts anticipate that First Quantum Minerals will post 0.8611399 earnings per share for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the firm's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of C$16.54, for a total value of C$264,640.00. In related news, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total value of C$885,022.50. Also, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the firm's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. 19.35% of the stock is currently 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.