BMO Capital Markets Boosts First Quantum Minerals (TSE:FM) Price Target to C$8.50

First Quantum Minerals (TSE:FM) had its price target boosted by equities researchers at BMO Capital Markets from C$7.50 to C$8.50 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential downside of 42.49% from the stock’s current price.

A number of other brokerages also recently weighed in on FM. Canaccord Genuity Group increased their price target on shares of First Quantum Minerals from C$17.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, March 1st. Citigroup reduced their target price on shares of First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating for the company in a research note on Wednesday, January 10th. TD Securities boosted their price target on First Quantum Minerals from C$14.50 to C$15.50 and gave the company a “hold” rating in a research note on Monday, March 4th. National Bankshares upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$15.00 to C$16.50 in a research report on Friday, March 1st. Finally, Bank of America lifted their price objective on First Quantum Minerals from C$16.00 to C$17.00 in a report on Tuesday, April 9th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$16.02.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock traded down C$0.69 during trading on Wednesday, reaching C$14.78. The company’s stock had a trading volume of 3,043,059 shares, compared to its average volume of 3,031,430. The business’s fifty day moving average price is C$13.65 and its 200-day moving average price is C$15.58. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The firm has a market cap of C$12.32 billion, a price-to-earnings ratio of -7.90, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing the consensus estimate of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.58 billion. As a group, equities research analysts predict that First Quantum Minerals will post 0.7906736 earnings per share for the current year.

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.