First Quantum Minerals (FM) Price Target Cut to C$24.00

First Quantum Minerals (TSE:FM) had its target price trimmed by Raymond James from C$25.00 to C$24.00 in a report issued on Friday morning.

A number of other research firms have also recently commented on FM. TD Securities upgraded First Quantum Minerals from a buy rating to an action list buy rating and upped their price objective for the company from C$25.00 to C$30.00 in a research report on Thursday, June 14th. BMO Capital Markets upped their price objective on First Quantum Minerals from C$9.00 to C$9.75 in a research report on Monday, June 11th. Barclays upped their price objective on First Quantum Minerals from C$19.00 to C$19.40 and gave the company a c$19.12 rating in a research report on Wednesday, July 18th. National Bank Financial upped their price objective on First Quantum Minerals from C$20.50 to C$21.25 and gave the company a sector perform rating in a research report on Wednesday, August 1st. Finally, Deutsche Bank upgraded First Quantum Minerals from a hold rating to a buy rating and upped their price objective for the company from C$21.00 to C$23.00 in a research report on Wednesday, July 11th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. First Quantum Minerals presently has a consensus rating of Buy and an average price target of C$20.58.

Shares of TSE:FM opened at C$14.60 on Friday. First Quantum Minerals has a 1 year low of C$13.63 and a 1 year high of C$23.05.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Monday, July 30th. The company reported C$0.34 EPS for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.06. The company had revenue of C$1.35 billion during the quarter, compared to analysts’ expectations of C$1.28 billion. First Quantum Minerals had a negative return on equity of 5.12% and a negative net margin of 10.51%.

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 19th were given a $0.005 dividend. This represents a yield of 0.02%. The ex-dividend date of this dividend was Monday, August 27th.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates in seven mines and one copper smelter, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

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Analyst Recommendations for First Quantum Minerals (TSE:FM)

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