First Quantum Minerals (TSE:FM) Price Target Cut to C$21.50 by Analysts at Scotiabank

First Quantum Minerals (TSE:FM) had its target price lowered by analysts at Scotiabank from C$22.00 to C$21.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 14.73% from the company’s previous close.

A number of other research firms have also issued reports on FM. Jefferies Financial Group reduced their price target on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Barclays upgraded shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 12th. Morgan Stanley raised their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada increased their price target on First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Finally, CIBC lifted their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Hold” and a consensus target price of C$20.93.

First Quantum Minerals Price Performance

TSE FM traded down C$0.73 during trading hours on Thursday, reaching C$18.74. The company’s stock had a trading volume of 1,225,979 shares, compared to its average volume of 1,781,570. The company has a market capitalization of C$15.63 billion, a price-to-earnings ratio of -7.24, a PEG ratio of -1.28 and a beta of 1.73. The firm’s 50-day moving average price is C$19.06 and its 200-day moving average price is C$17.88. First Quantum Minerals has a 1 year low of C$10.91 and a 1 year high of C$21.45. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott acquired 1,397 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was acquired at an average price of C$18.57 per share, with a total value of C$25,942.29. 19.35% of the stock is currently owned by company insiders.

About First Quantum Minerals

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.