First Quantum Minerals (TSE:FM) Price Target Lowered to C$28.00 at CIBC

First Quantum Minerals (TSE:FMGet Rating) had its price target cut by CIBC from C$34.00 to C$28.00 in a research report report published on Tuesday, BayStreet.CA reports.

FM has been the topic of several other reports. Eight Capital upped their price objective on First Quantum Minerals from C$40.00 to C$50.00 and gave the company a market perform rating in a research report on Thursday, April 21st. Stifel Nicolaus reduced their price objective on First Quantum Minerals from C$43.00 to C$39.00 in a research report on Tuesday, July 19th. Morgan Stanley reduced their price objective on First Quantum Minerals to C$34.00 and set an equal weight rating on the stock in a research report on Thursday, June 23rd. Barclays upgraded First Quantum Minerals from an underperform rating to an equal weight rating and reduced their price objective for the company from C$27.00 to C$20.00 in a research report on Tuesday, July 19th. Finally, BMO Capital Markets reduced their price objective on First Quantum Minerals from C$40.00 to C$38.00 in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of C$34.62.

First Quantum Minerals Stock Down 8.2 %

FM opened at C$21.47 on Tuesday. The business’s fifty day moving average is C$27.44 and its two-hundred day moving average is C$33.65. The company has a debt-to-equity ratio of 65.34, a quick ratio of 1.58 and a current ratio of 2.35. The company has a market cap of C$14.85 billion and a price-to-earnings ratio of 10.74. First Quantum Minerals has a one year low of C$18.67 and a one year high of C$45.38.

First Quantum Minerals Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Monday, August 29th will be given a $0.16 dividend. This is an increase from First Quantum Minerals’s previous Semi-Annual dividend of $0.01. The ex-dividend date is Friday, August 26th. This represents a dividend yield of 0.68%. First Quantum Minerals’s dividend payout ratio is presently 0.39%.

First Quantum Minerals Company Profile

(Get Rating)

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, gold, silver, 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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