First Quantum Minerals (TSE:FM) Upgraded by Canaccord Genuity Group to “Strong-Buy” Rating

First Quantum Minerals (TSE:FM) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

FM has been the subject of a number of other reports. Barclays lowered their price target on First Quantum Minerals from C$25.00 to C$23.40 in a research report on Thursday, January 30th. Desjardins upgraded shares of First Quantum Minerals to a “hold” rating in a report on Thursday, April 3rd. Jefferies Financial Group decreased their price objective on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. TD Securities upped their target price on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Finally, Raymond James raised their price target on First Quantum Minerals from C$20.00 to C$21.00 in a research note on Friday, April 4th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, First Quantum Minerals currently has an average rating of “Moderate Buy” and an average target price of C$21.77.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$16.56 on Wednesday. First Quantum Minerals has a 52-week low of C$13.81 and a 52-week high of C$23.28. The company has a market cap of C$9.40 billion, a price-to-earnings ratio of -6.12, a PEG ratio of -1.28 and a beta of 1.73. The firm’s fifty day moving average is C$18.63 and its 200 day moving average is C$18.74. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same period in the prior year, the business posted ($0.37) earnings per share. Sell-side analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In related news, Director Alison Cheryl Beckett bought 1,388 shares of the business’s stock in a transaction on Monday, March 31st. The shares were bought at an average price of C$19.25 per share, for a total transaction of C$26,719.00. Also, Senior Officer Zenon Wozniak sold 40,000 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total transaction of C$844,400.00. Insiders own 19.35% of the company’s stock.

About First Quantum Minerals

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.