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

First Quantum Minerals (TSE:FM) had its price target raised by Morgan Stanley from C$33.50 to C$36.70 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Morgan Stanley’s price target points to a potential downside of 9.20% from the company’s current price.

A number of other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their price target for the company from C$35.00 to C$33.00 in a research note on Wednesday, November 26th. Desjardins lifted their price target on First Quantum Minerals from C$34.00 to C$40.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Jefferies Financial Group lifted their target price on First Quantum Minerals from C$38.00 to C$47.00 in a report on Monday, January 12th. Stifel Nicolaus raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the company from C$26.00 to C$38.00 in a report on Tuesday, October 21st. Finally, CIBC upped their price objective on shares of First Quantum Minerals from C$26.00 to C$36.00 in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy” and an average target price of C$39.56.

First Quantum Minerals Stock Performance

Shares of TSE:FM traded up C$1.23 during mid-day trading on Tuesday, reaching C$40.42. The company had a trading volume of 1,433,655 shares, compared to its average volume of 2,456,114. The company’s 50-day moving average price is C$36.66 and its 200-day moving average price is C$30.49. First Quantum Minerals has a one year low of C$14.41 and a one year high of C$45.17. The firm has a market cap of C$33.72 billion, a price-to-earnings ratio of 673.67, a PEG ratio of -1.28 and a beta of 1.37. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41.

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

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. 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.