Canaccord Genuity Group Cuts First Quantum Minerals (TSE:FM) Price Target to C$21.50

First Quantum Minerals (TSE:FM) had its target price decreased by Canaccord Genuity Group from C$22.00 to C$21.50 in a research note issued to investors on Thursday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Barclays increased their price target on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an equal weight rating in a research note on Tuesday, April 16th. CIBC raised their price objective on First Quantum Minerals from C$14.00 to C$15.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. UBS Group set a C$16.00 target price on First Quantum Minerals and gave the stock a neutral rating in a report on Tuesday, January 16th. Raymond James lifted their price target on First Quantum Minerals from C$16.00 to C$19.00 in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus set a C$14.00 price objective on shares of First Quantum Minerals and gave the company a hold rating in a research report on Tuesday, March 26th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of Hold and an average price target of C$16.96.

First Quantum Minerals Price Performance

FM stock opened at C$18.27 on Thursday. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41. First Quantum Minerals has a 1 year low of C$9.31 and a 1 year high of C$39.13. The firm has a 50-day moving average of C$14.31 and a 200 day moving average of C$14.77. The company has a market cap of C$15.23 billion, a P/E ratio of -9.77, a PEG ratio of -1.28 and a beta of 2.01.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The firm had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. On average, sell-side analysts forecast that First Quantum Minerals will post 0.7906736 EPS 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.