BMO Capital Markets Trims First Quantum Minerals (TSE:FM) Target Price to C$17.00

First Quantum Minerals (TSE:FM) had its price objective reduced by analysts at BMO Capital Markets from C$17.50 to C$17.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 7.26% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus set a C$14.00 price objective on First Quantum Minerals and gave the company a “hold” rating in a report on Tuesday, March 26th. 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 report on Thursday, February 29th. Bank of America increased their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 in a report on Tuesday, April 9th. Jefferies Financial Group upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$13.00 to C$18.00 in a research report on Thursday, February 22nd. Finally, Canaccord Genuity Group lifted their price target on First Quantum Minerals from C$21.00 to C$22.00 in a research note on Wednesday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$16.85.

First Quantum Minerals Price Performance

Shares of TSE:FM traded up C$0.33 during trading on Wednesday, reaching C$15.85. The company had a trading volume of 1,497,826 shares, compared to its average volume of 3,020,665. The company has a fifty day moving average of C$14.01 and a two-hundred day moving average of C$15.07. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21. The stock has a market capitalization of C$13.21 billion, a P/E ratio of -8.48, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$39.13.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. The firm had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.58 billion. Equities 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.