First Quantum Minerals (TSE:FM) had its price target upped by stock analysts at Raymond James from C$39.00 to C$40.00 in a research note issued to investors on Wednesday, Price Targets.com reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 40.11% from the stock’s previous close. Raymond James also issued estimates for First Quantum Minerals’ Q3 2021 earnings at $0.64 EPS and Q4 2021 earnings at $0.64 EPS.
Several other research analysts have also recently issued reports on FM. National Bankshares raised their target price on shares of First Quantum Minerals from C$35.00 to C$40.00 in a report on Thursday, May 20th. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and set a C$33.00 price target on the stock. in a report on Wednesday, May 26th. TD Securities lifted their price target on shares of First Quantum Minerals from C$31.00 to C$33.00 and gave the company a “buy” rating in a report on Thursday, February 18th. Scotiabank lifted their price target on shares of First Quantum Minerals from C$30.00 to C$34.00 in a report on Monday, April 12th. Finally, The Goldman Sachs Group lifted their price target on shares of First Quantum Minerals from C$30.00 to C$40.00 and gave the company an “underperform” rating in a report on Wednesday, April 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$33.42.
FM stock opened at C$28.55 on Wednesday. The company has a debt-to-equity ratio of 93.62, a current ratio of 1.26 and a quick ratio of 0.70. First Quantum Minerals has a one year low of C$8.02 and a one year high of C$35.07. The stock has a market capitalization of C$19.71 billion and a P/E ratio of 679.76. The business’s 50 day simple moving average is C$28.83.
In related news, Director Peter St. George sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of C$33.76, for a total transaction of C$4,219,525.00. Following the completion of the transaction, the director now directly owns 387,885 shares in the company, valued at approximately C$13,093,523.64. Also, Director G. Clive Newall sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of C$30.51, for a total value of C$1,525,250.00. Following the transaction, the director now owns 2,693,461 shares of the company’s stock, valued at C$82,164,027.81. Insiders have sold a total of 200,000 shares of company stock valued at $6,509,275 in the last ninety days.
About First Quantum Minerals
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the PyhÃ¤salmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.
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