JPMorgan Chase & Co. Cuts First Quantum Minerals (TSE:FM) Price Target to C$17.00

First Quantum Minerals (TSE:FM) had its price objective cut by JPMorgan Chase & Co. from C$18.00 to C$17.00 in a report published on Monday morning,BayStreet.CA reports.

Other analysts also recently issued reports about the stock. CIBC increased their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Scotiabank decreased their price target on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Barclays upgraded shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 12th. Morgan Stanley raised their price objective on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$24.00 to C$20.00 in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Hold” and an average price target of C$21.13.

First Quantum Minerals Stock Down 2.6 %

TSE:FM opened at C$18.66 on Monday. The company has a market cap of C$15.56 billion, a PE ratio of -7.20, a P/E/G ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The company’s 50 day moving average is C$19.10 and its two-hundred day moving average is C$17.97.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported C$0.19 earnings per share for the quarter. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. During the same period last year, the company earned $0.70 EPS. Analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 45,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. Also, Director Simon John Scott bought 1,397 shares of First Quantum Minerals stock in a transaction on Tuesday, December 31st. The stock was purchased at an average price of C$18.57 per share, for a total transaction of C$25,942.29. Corporate insiders own 19.35% of the company’s stock.

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.