First Quantum Minerals (TSE:FM) Price Target Lowered to C$22.00 at Stifel Nicolaus

First Quantum Minerals (TSE:FM) had its price target cut by Stifel Nicolaus from C$24.00 to C$22.00 in a research report sent to investors on Monday, BayStreet.CA reports. They currently have a hold rating on the stock.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft downgraded First Quantum Minerals from a buy rating to a hold rating in a research note on Tuesday, October 31st. Raymond James decreased their price target on First Quantum Minerals from C$35.00 to C$24.00 and set a market perform rating for the company in a research note on Wednesday, November 1st. CIBC decreased their price target on First Quantum Minerals from C$34.00 to C$24.50 and set a neutral rating for the company in a research note on Wednesday, November 1st. Canaccord Genuity Group decreased their price target on First Quantum Minerals from C$43.00 to C$39.00 and set a buy rating for the company in a research note on Friday, October 20th. Finally, Barclays cut their price objective on First Quantum Minerals from C$25.00 to C$17.00 and set an underweight rating for the company in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of C$29.21.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$15.09 on Monday. First Quantum Minerals has a 1-year low of C$13.66 and a 1-year high of C$39.13. The company has a current ratio of 1.85, a quick ratio of 1.41 and a debt-to-equity ratio of 64.53. The company has a market capitalization of C$10.47 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of -1.28 and a beta of 2.35. The stock’s fifty day simple moving average is C$27.70 and its 200-day simple moving average is C$31.41.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, October 24th. The company reported C$0.70 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.34 by C$0.36. First Quantum Minerals had a return on equity of 5.35% and a net margin of 8.63%. The business had revenue of C$2.72 billion for the quarter, compared to the consensus estimate of C$2.68 billion. On average, sell-side analysts predict that First Quantum Minerals will post 1.6891026 earnings per share for the current fiscal year.

First Quantum Minerals Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 19th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a yield of 0.2%. First Quantum Minerals’s payout ratio is 17.21%.

First Quantum Minerals Company Profile

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.