First Quantum Minerals (TSE:FM) Stock Price Up 10.2%

First Quantum Minerals Limited (TSE:FM)’s share price rose 10.2% during trading on Thursday . The stock traded as high as C$11.40 and last traded at C$10.99, approximately 1,299,605 shares changed hands during mid-day trading. A decline of 59% from the average daily volume of 3,181,294 shares. The stock had previously closed at C$9.97.

FM has been the topic of several recent research reports. Deutsche Bank decreased their price objective on shares of First Quantum Minerals from C$13.50 to C$11.00 in a research report on Wednesday, September 4th. Bank of America downgraded First Quantum Minerals from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from C$13.50 to C$8.00 in a research report on Friday, August 16th. TD Securities downgraded First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$16.50 to C$14.50 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on First Quantum Minerals from C$10.00 to C$11.00 in a research report on Wednesday, October 2nd. Finally, Raymond James lifted their price target on First Quantum Minerals from C$16.50 to C$17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of C$13.77.

The company has a debt-to-equity ratio of 90.68, a quick ratio of 0.99 and a current ratio of 1.71. The firm has a market cap of $6.80 billion and a P/E ratio of 19.77. The business’s 50-day simple moving average is C$9.91 and its 200 day simple moving average is C$11.57.

First Quantum Minerals (TSE:FM) last posted its earnings results on Monday, July 29th. The company reported C$0.17 EPS for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.07. The company had revenue of C$1.26 billion during the quarter, compared to the consensus estimate of C$1.34 billion. As a group, equities research analysts expect that First Quantum Minerals Limited will post 0.6100001 EPS for the current year.

The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.005 per share. This represents a dividend yield of 0.04%. The ex-dividend date was Tuesday, August 27th. First Quantum Minerals’s dividend payout ratio is presently 1.32%.

About First Quantum Minerals (TSE:FM)

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 seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter 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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