Canaccord Genuity Group Boosts First Quantum Minerals (TSE:FM) Price Target to C$22.00

First Quantum Minerals (TSE:FM) had its price objective lifted by analysts at Canaccord Genuity Group from C$21.00 to C$22.00 in a research report issued on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 36.73% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley lifted their price objective on First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group set a C$16.00 price target on First Quantum Minerals and gave the company a “neutral” rating in a report on Tuesday, January 16th. Bank of America boosted their price target on First Quantum Minerals from C$16.00 to C$17.00 in a report on Tuesday, April 9th. CIBC lowered their price target on First Quantum Minerals from C$15.00 to C$14.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Finally, Citigroup lowered their price target on First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating for the company in a report on Wednesday, January 10th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$16.02.

First Quantum Minerals Price Performance

FM stock opened at C$16.09 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21. First Quantum Minerals has a 52-week low of C$9.31 and a 52-week high of C$39.13. The stock’s 50 day moving average is C$13.70 and its two-hundred day moving average is C$15.57. The company 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 posted its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of C$1.58 billion. 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.