First Quantum Minerals (TSE:FM) PT Raised to C$20.20 at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price objective lifted by equities research analysts at Morgan Stanley from C$19.40 to C$20.20 in a research report issued on Thursday, BayStreet.CA reports. Morgan Stanley’s price objective would indicate a potential upside of 13.23% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Stifel Nicolaus lifted their price objective on First Quantum Minerals from C$15.00 to C$18.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$19.00 to C$26.00 in a research report on Wednesday, June 26th. Eight Capital lifted their price objective on First Quantum Minerals from C$17.00 to C$22.00 in a research report on Thursday, July 11th. Canaccord Genuity Group lifted their price objective on First Quantum Minerals from C$22.00 to C$25.00 in a research report on Monday, July 22nd. Finally, Raymond James lifted their price objective on First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$20.12.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$17.84 on Thursday. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. The company has a market capitalization of C$14.88 billion, a PE ratio of -7.00, a price-to-earnings-growth ratio of -1.28 and a beta of 1.72. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$33.31. The business has a 50 day simple moving average of C$16.47 and a 200 day simple moving average of C$16.48.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.05) by C$0.02. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. The business had revenue of C$1.68 billion during the quarter, compared to the consensus estimate of C$1.42 billion. On average, sell-side analysts forecast that First Quantum Minerals will post 1.0143443 EPS for the current fiscal year.

Insider Buying and Selling

In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of C$16.54, for a total value of C$264,640.00. 19.35% of the stock is owned by 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.