First Quantum Minerals (TSE:FM) Cut to “Market Perform” at Raymond James

Raymond James cut shares of First Quantum Minerals (TSE:FMGet Rating) from an outperform rating to a market perform rating in a research report report published on Wednesday, BayStreet.CA reports. Raymond James currently has C$28.00 price objective on the stock, down from their prior price objective of C$29.00.

A number of other equities research analysts also recently weighed in on FM. National Bankshares lowered their target price on shares of First Quantum Minerals from C$32.00 to C$30.00 and set an outperform rating on the stock in a research note on Thursday, October 27th. Credit Suisse Group lowered their target price on shares of First Quantum Minerals to C$31.00 in a research note on Thursday, October 27th. CSFB reduced their price target on shares of First Quantum Minerals from C$33.00 to C$31.00 in a research report on Thursday, October 27th. Barclays increased their price target on shares of First Quantum Minerals from C$20.00 to C$22.00 in a research report on Monday, October 17th. Finally, Morgan Stanley cut shares of First Quantum Minerals to a sell rating and set a C$23.00 price target on the stock. in a research report on Tuesday, October 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, First Quantum Minerals currently has a consensus rating of Hold and an average target price of C$32.40.

First Quantum Minerals Trading Up 0.1 %

Shares of FM opened at C$31.20 on Wednesday. The firm’s 50 day simple moving average is C$25.82 and its 200 day simple moving average is C$26.61. The company has a market capitalization of C$21.60 billion and a P/E ratio of 14.05. The company has a debt-to-equity ratio of 67.97, a current ratio of 2.43 and a quick ratio of 1.41. First Quantum Minerals has a 1-year low of C$18.67 and a 1-year high of C$45.38.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 30,965 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of C$30.90, for a total transaction of C$956,818.50. Following the completion of the transaction, the insider now owns 49,161 shares of the company’s stock, valued at C$1,519,074.90.

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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Analyst Recommendations for First Quantum Minerals (TSE:FM)

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