Barclays Boosts First Quantum Minerals (TSE:FM) Price Target to C$16.00

First Quantum Minerals (TSE:FM) had its target price lifted by Barclays from C$13.00 to C$16.00 in a report issued on Tuesday morning, BayStreet.CA reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also issued reports on FM. Citigroup decreased their price objective on First Quantum Minerals from C$32.00 to C$14.00 and set a neutral rating on the stock in a research note on Wednesday, January 10th. National Bankshares upgraded First Quantum Minerals from a sector perform rating to an outperform rating and boosted their price objective for the company from C$15.00 to C$16.50 in a research note on Friday, March 1st. Royal Bank of Canada upgraded First Quantum Minerals from a sector perform rating to an outperform rating and boosted their price objective for the company from C$17.00 to C$18.00 in a research note on Monday, March 4th. UBS Group set a C$16.00 price objective on First Quantum Minerals and gave the company a neutral rating in a research note on Tuesday, January 16th. Finally, Scotiabank decreased their price objective on First Quantum Minerals from C$14.50 to C$13.00 and set a sector perform rating on the stock in a research note on Thursday, February 22nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of C$16.02.

First Quantum Minerals Stock Up 8.9 %

Shares of TSE FM opened at C$16.09 on Tuesday. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41. The business’s fifty day moving average price is C$13.70 and its 200-day moving average price is C$15.57. The stock has a market capitalization of C$13.41 billion, a PE ratio of -8.60, a P/E/G ratio of -1.28 and a beta of 2.01.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. The firm had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations of C$1.58 billion. On average, equities research analysts anticipate that First Quantum Minerals will post 0.7906736 EPS for the current year.

About First Quantum Minerals

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.