Barclays Lowers First Quantum Minerals (TSE:FM) Price Target to C$17.00

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective dropped by Barclays from C$18.00 to C$17.00 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective points to a potential downside of 4.97% from the stock's previous close.

Several other research analysts also recently commented on the company. CIBC raised their target price on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a "neutral" rating in a research note on Thursday, June 20th. Jefferies Financial Group raised their price objective on shares of First Quantum Minerals from C$19.50 to C$23.00 in a research report on Monday, July 8th. Eight Capital upped their target price on shares of First Quantum Minerals from C$17.00 to C$22.00 in a report on Thursday, July 11th. Cormark cut 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 report on Thursday, July 25th. Finally, 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 report on Thursday, June 20th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$20.59.

First Quantum Minerals Stock Performance

FM traded up C$0.42 during trading hours on Wednesday, hitting C$17.89. The stock had a trading volume of 2,124,024 shares, compared to its average volume of 2,686,206. First Quantum Minerals has a 1 year low of C$9.31 and a 1 year high of C$32.28. The company's fifty day simple moving average is C$16.79 and its 200 day simple moving average is C$16.94. The stock has a market cap of C$14.92 billion, a PE ratio of -7.04, 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 2.35 and a debt-to-equity ratio of 67.00.

First Quantum Minerals (TSE:FM - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share for the quarter, topping the consensus estimate of C($0.05) by C$0.02. The firm had revenue of C$1.68 billion during the quarter, compared to the consensus estimate of C$1.42 billion. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. Equities analysts anticipate that First Quantum Minerals will post 0.3652482 earnings per share for the current year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business's stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total transaction of C$117,165.19. Company 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.