First Quantum Minerals (TSE:FM) Price Target Cut to C$17.00

First Quantum Minerals (TSE:FM) had its price target cut by equities researchers at BMO Capital Markets from C$17.50 to C$17.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 4.68% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. UBS Group set a C$16.00 price objective on shares of First Quantum Minerals and gave the company a “neutral” rating in a report on Tuesday, January 16th. Royal Bank of Canada raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. Barclays boosted their target price 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. Bank of America boosted 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. Finally, Canaccord Genuity Group upped their price objective on shares of First Quantum Minerals from C$21.00 to C$22.00 in a research report on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Quantum Minerals has an average rating of “Hold” and an average target price of C$16.96.

First Quantum Minerals Stock Performance

Shares of TSE:FM opened at C$16.24 on Wednesday. The company’s 50 day simple moving average is C$14.19 and its 200 day simple moving average is C$15.08. The stock has a market capitalization of C$13.54 billion, a price-to-earnings ratio of -8.68, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. 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 has a 1 year low of C$9.31 and a 1 year high of C$39.13.

First Quantum Minerals (TSE:FM) last posted its earnings results 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 company had revenue of C$1.66 billion for the quarter, compared to the consensus estimate 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%. As a group, research analysts predict that First Quantum Minerals will post 0.7906736 EPS 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.