Barclays Raises First Quantum Minerals (TSE:FM) Price Target to C$16.00

First Quantum Minerals (TSE:FM) had its price target increased by equities research analysts at Barclays from C$13.00 to C$16.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 7.24% from the company’s previous close.

Several other equities analysts also recently commented on FM. Royal Bank of Canada raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. Citigroup lowered their price objective on First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 10th. Raymond James increased their target price on First Quantum Minerals from C$13.00 to C$16.00 in a report on Wednesday, March 20th. TD Securities boosted their price target on First Quantum Minerals from C$14.50 to C$15.50 and gave the company a “hold” rating in a research note on Monday, March 4th. Finally, Canaccord Genuity Group raised their target price on shares of First Quantum Minerals from C$17.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, March 1st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Hold” and an average target price of C$16.08.

First Quantum Minerals Stock Up 0.4 %

TSE FM traded up C$0.06 during trading hours on Tuesday, hitting C$14.92. 551,000 shares of the company traded hands, compared to its average volume of 2,999,897. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$39.13. The stock has a market capitalization of C$12.44 billion, a price-to-earnings ratio of -7.93, a P/E/G ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. The business’s 50-day moving average is C$13.59 and its 200-day moving average is C$15.69.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion. Sell-side analysts anticipate that First Quantum Minerals will post 0.7906736 earnings per share for the current year.

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.