First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

by · The Markets Daily

First Quantum Minerals (TSE:FM – Get Free Report) had its price objective boosted by research analysts at Morgan Stanley from C$33.50 to C$36.70 in a research report issued on Tuesday,BayStreet.CA reports. Morgan Stanley’s price target would indicate a potential downside of 9.20% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Raymond James Financial upped their price target on shares of First Quantum Minerals from C$25.00 to C$29.00 in a research note on Friday, October 10th. Jefferies Financial Group increased their price target on First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. TD Securities increased their target price on First Quantum Minerals from C$34.00 to C$41.00 in a report on Thursday, January 22nd. National Bankshares boosted their price target on First Quantum Minerals from C$42.50 to C$47.00 in a research note on Thursday, January 29th. Finally, Stifel Nicolaus upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$26.00 to C$38.00 in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, First Quantum Minerals presently has an average rating of “Moderate Buy” and a consensus target price of C$39.56.

View Our Latest Analysis on First Quantum Minerals

First Quantum Minerals Stock Performance

Shares of FM traded up C$1.23 during mid-day trading on Tuesday, reaching C$40.42. The company’s stock had a trading volume of 1,433,655 shares, compared to its average volume of 2,456,114. First Quantum Minerals has a 1-year low of C$14.41 and a 1-year high of C$45.17. The business has a 50-day simple moving average of C$36.66 and a two-hundred day simple moving average of C$30.49. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The stock has a market cap of C$33.72 billion, a P/E ratio of 673.67, a PEG ratio of -1.28 and a beta of 1.37.

First Quantum Minerals (TSE:FM – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported C($0.02) EPS for the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. The company had revenue of C$1.87 billion during the quarter. As a group, equities research analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

(Get Free Report)

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.

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