First Quantum Minerals (TSE:FM) had its price objective increased by Deutsche Bank from C$9.00 to C$11.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Deutsche Bank’s price objective indicates a potential upside of 26.00% from the company’s current price.
Several other brokerages also recently commented on FM. Cormark downgraded shares of First Quantum Minerals from a “buy” rating to a “market perform” rating and reduced their target price for the company from C$16.50 to C$11.00 in a research note on Tuesday, April 7th. Jefferies Financial Group dropped their price objective on First Quantum Minerals from C$19.00 to C$16.00 in a report on Thursday, March 19th. Citigroup dropped their price objective on First Quantum Minerals from C$13.00 to C$11.00 in a report on Friday, March 27th. CSFB set a C$12.00 price target on First Quantum Minerals and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, TD Securities raised First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price target for the company from C$10.50 to C$14.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. First Quantum Minerals currently has an average rating of “Hold” and an average target price of C$12.20.
Shares of TSE:FM traded down C$1.16 during trading on Thursday, reaching C$8.73. The stock had a trading volume of 2,648,666 shares, compared to its average volume of 3,462,933. First Quantum Minerals has a 52 week low of C$4.71 and a 52 week high of C$14.10. The firm has a market capitalization of $6.23 billion and a price-to-earnings ratio of 23.62. The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 90.14. The stock has a fifty day simple moving average of C$8.35 and a two-hundred day simple moving average of C$10.11.
First Quantum Minerals (TSE:FM) last announced its earnings results on Monday, April 27th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.10) by C($0.02). The company had revenue of C$1.59 billion for the quarter, compared to analyst estimates of C$1.74 billion. On average, analysts forecast that First Quantum Minerals will post 0.11 EPS for the current year.
About First Quantum Minerals
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.
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