Eight Capital Raises First Quantum Minerals (TSE:FM) Price Target to C$17.00

First Quantum Minerals (TSE:FM) had its price objective boosted by equities research analysts at Eight Capital from C$16.00 to C$17.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. Eight Capital’s target price would indicate a potential upside of 9.54% from the stock’s previous close.

FM has been the subject of a number of other reports. Stifel Nicolaus set a C$14.00 price objective on shares of First Quantum Minerals and gave the stock a “hold” rating in a research report on Tuesday, March 26th. CIBC upped their price objective on shares of First Quantum Minerals from C$14.00 to C$15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Barclays upped their price objective on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Citigroup reduced their price objective on shares of First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating for the company in a research report on Wednesday, January 10th. Finally, National Bankshares raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$15.00 to C$16.50 in a research report on Friday, March 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$16.26.

First Quantum Minerals Price Performance

Shares of TSE FM opened at C$15.52 on Monday. The firm’s 50-day moving average price is C$14.01 and its 200-day moving average price is C$15.07. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$39.13. The firm has a market capitalization of C$12.94 billion, a P/E ratio of -8.30, a P/E/G ratio of -1.28 and a beta of 2.01. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data 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). The company had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion. First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. Equities research analysts anticipate that First Quantum Minerals will post 0.7906736 earnings per share for the current fiscal 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.