Desjardins Issues Positive Forecast for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price objective lifted by equities research analysts at Desjardins from C$34.00 to C$40.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective would indicate a potential downside of 3.89% from the stock’s previous close.

Several other research firms also recently commented on FM. JPMorgan Chase & Co. upgraded shares of First Quantum Minerals from a “neutral” rating to an “overweight” rating and upped their price target for the company from C$20.00 to C$42.00 in a research report on Friday, October 10th. Barclays upped their price objective on shares of First Quantum Minerals from C$38.00 to C$44.30 in a research note on Thursday, January 8th. Royal Bank Of Canada lifted their target price on First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Scotiabank upped their target price on First Quantum Minerals from C$35.00 to C$41.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 8th. Finally, Raymond James Financial raised their price objective on First Quantum Minerals from C$25.00 to C$29.00 in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and an average target price of C$38.56.

First Quantum Minerals Trading Up 2.0%

Shares of TSE FM traded up C$0.81 during trading on Monday, hitting C$41.62. 1,348,963 shares of the company were exchanged, compared to its average volume of 2,178,889. The firm has a market capitalization of C$34.72 billion, a PE ratio of 693.67, a P/E/G ratio of -1.28 and a beta of 1.37. First Quantum Minerals has a 12-month low of C$14.41 and a 12-month high of C$42.48. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The company has a fifty day moving average price of C$35.23 and a 200-day moving average price of C$29.76.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.The company had revenue of C$1.87 billion for the quarter. As a group, equities research analysts expect that First Quantum Minerals will post 0.55872 EPS for the current year.

Insiders Place Their Bets

In other First Quantum Minerals news, Director Charles Kevin Mcarthur acquired 10,000 shares of the stock in a transaction dated Friday, October 31st. The shares were bought at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the purchase, the director directly owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This trade represents a 40.00% increase in their position. Over the last three months, insiders have bought 10,474 shares of company stock valued at $304,575. 19.35% of the stock is currently owned by corporate insiders.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.