Royal Bank of Canada Raises First Quantum Minerals (TSE:FM) Price Target to C$23.00

First Quantum Minerals (TSE:FM) had its target price lifted by Royal Bank of Canada from C$22.00 to C$23.00 in a research note released on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on FM. Eight Capital upped their price objective on First Quantum Minerals from C$17.00 to C$22.00 in a report on Thursday, July 11th. National Bankshares lowered their price target on First Quantum Minerals from C$22.00 to C$21.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Jefferies Financial Group raised their price objective on First Quantum Minerals from C$19.50 to C$23.00 in a research report on Monday, July 8th. Canaccord Genuity Group upped their target price on shares of First Quantum Minerals from C$22.00 to C$25.00 in a research report on Monday, July 22nd. Finally, CIBC lifted their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Hold” and an average target price of C$20.83.

First Quantum Minerals Price Performance

The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The stock has a market capitalization of C$15.77 billion, a P/E ratio of -7.58, a PEG ratio of -1.28 and a beta of 1.73. The stock’s 50 day moving average price is C$17.15 and its 200-day moving average price is C$17.14. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$28.80.

Insiders Place Their Bets

In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals stock in a transaction dated Monday, July 29th. The stock was sold at an average price of C$16.54, for a total value of C$264,640.00. In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. Also, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the stock in a transaction that occurred 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. 19.35% of the stock is owned by company 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.