First Quantum Minerals (TSE:FM) Upgraded by Desjardins to “Hold” Rating

First Quantum Minerals (TSE:FM) was upgraded by research analysts at Desjardins to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on FM. Barclays decreased their price objective on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Morgan Stanley lifted their target price on First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Jefferies Financial Group decreased their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Royal Bank of Canada lifted their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of First Quantum Minerals from C$18.00 to C$17.00 in a report on Thursday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, First Quantum Minerals has an average rating of “Hold” and an average target price of C$21.57.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock opened at C$16.00 on Thursday. The firm has a fifty day moving average of C$19.20 and a two-hundred day moving average of C$18.72. 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 stock has a market capitalization of C$9.08 billion, a price-to-earnings ratio of -5.91, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 52 week low of C$13.81 and a 52 week high of C$23.28.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data 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 return on equity of 14.05% and a negative net margin of 32.41%. During the same period in the prior year, the firm earned ($0.37) earnings per share. As a group, equities research analysts predict that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Buying and Selling at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. Also, Director Alison Cheryl Beckett purchased 1,388 shares of First Quantum Minerals stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of C$19.25 per share, with a total value of C$26,719.00. Corporate insiders own 19.35% of the company’s stock.

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.