First Quantum Minerals (TSE:FM) Given New C$18.00 Price Target at JPMorgan Chase & Co.

First Quantum Minerals (TSE:FM) had its target price lifted by JPMorgan Chase & Co. from C$12.00 to C$18.00 in a report issued on Wednesday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised shares of First Quantum Minerals from a hold rating to a buy rating and increased their target price for the company from C$13.00 to C$18.00 in a research report on Thursday, February 22nd. Stifel Nicolaus set a C$14.00 target price on shares of First Quantum Minerals and gave the company a hold rating in a research report on Tuesday, March 26th. CIBC decreased their target price on shares of First Quantum Minerals from C$15.00 to C$14.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Raymond James increased their target price on shares of First Quantum Minerals from C$13.00 to C$16.00 in a research report on Wednesday, March 20th. Finally, Bank of America increased their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals presently has an average rating of Hold and a consensus target price of C$16.02.

First Quantum Minerals Price Performance

Shares of FM opened at C$14.78 on Wednesday. The company has a 50 day moving average price of C$13.65 and a 200-day moving average price of C$15.58. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$39.13. The stock has a market capitalization of C$12.32 billion, a PE ratio of -7.90, a PEG ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing the consensus estimate of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. Equities analysts predict that First Quantum Minerals will post 0.7906736 earnings per share for the current fiscal year.

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.