JPMorgan Chase & Co. Issues Pessimistic Forecast for First Quantum Minerals (TSE:FM) Stock Price

by · The Cerbat Gem

First Quantum Minerals (TSE:FM – Get Free Report) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from C$20.00 to C$18.00 in a report issued on Friday,BayStreet.CA reports. JPMorgan Chase & Co.‘s target price suggests a potential downside of 5.71% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Eight Capital boosted their price target on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research report on Thursday, July 11th. CIBC boosted 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. Cormark lowered their target price on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating for the company in a research note on Thursday, July 25th. Barclays lowered their target price on shares of First Quantum Minerals from C$18.00 to C$17.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Canaccord Genuity Group increased their target price on shares of First Quantum Minerals from C$22.00 to C$25.00 in a research note on Monday, July 22nd. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$20.72.

Read Our Latest Research Report on First Quantum Minerals

First Quantum Minerals Trading Down 6.8 %

Shares of FM opened at C$19.09 on Friday. First Quantum Minerals has a 52-week low of C$9.31 and a 52-week high of C$20.76. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The firm’s fifty day moving average is C$17.56 and its two-hundred day moving average is C$17.33. The stock has a market cap of C$15.92 billion, a PE ratio of -7.37, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insiders Place Their Bets

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. 19.35% of the stock is owned by corporate insiders.

First Quantum Minerals Company Profile

(Get Free Report)

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.

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