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

First Quantum Minerals (TSE:FM) had its target price lifted 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’ target price points to a potential downside of 47.17% from the company’s previous close.

Several other research firms have also issued reports on FM. National Bankshares raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$15.00 to C$16.50 in a research report on Friday, March 1st. TD Securities increased their price target on shares of First Quantum Minerals from C$14.50 to C$15.50 and gave the stock a “hold” rating in a research report on Monday, March 4th. Scotiabank dropped their price target on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating for the company in a research report on Thursday, February 22nd. Bank of America increased their price target on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Finally, National Bank Financial raised shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a report on Thursday, February 29th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, First Quantum Minerals currently has an average rating of “Hold” and an average price target of C$16.02.

First Quantum Minerals Stock Up 8.9 %

TSE FM opened at C$16.09 on Wednesday. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. The firm has a 50-day simple moving average of C$13.70 and a 200 day simple moving average of C$15.57. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$39.13. The stock has a market cap of C$13.41 billion, a PE ratio of -8.60, a PEG ratio of -1.28 and a beta of 2.01.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share (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 analyst estimates of C$1.58 billion. On average, research analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current year.

First Quantum Minerals Company Profile

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.