First Quantum Minerals (TSE:FM) Price Target Increased to C$15.00 by Analysts at CIBC

First Quantum Minerals (TSE:FM) had its target price upped by equities researchers at CIBC from C$14.00 to C$15.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price target points to a potential downside of 6.77% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. BMO Capital Markets upped their price target on shares of First Quantum Minerals from C$7.50 to C$8.50 in a research report on Wednesday. National Bank Financial upgraded shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a research report on Thursday, February 29th. National Bankshares upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$15.00 to C$16.50 in a research report on Friday, March 1st. Finally, Raymond James upped their price objective on shares of First Quantum Minerals from C$13.00 to C$16.00 in a research note on Wednesday, March 20th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Hold” and a consensus target price of C$16.02.

First Quantum Minerals Trading Up 8.9 %

TSE FM opened at C$16.09 on Wednesday. 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. The company has a fifty day moving average of C$13.70 and a 200 day moving average of C$15.57. First Quantum Minerals has a 1 year low of C$9.31 and a 1 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.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). The firm had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. Research analysts forecast that First Quantum Minerals will post 0.7906736 earnings per share 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.