JPMorgan Chase & Co. Has Lowered Expectations for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price target cut by equities research analysts at JPMorgan Chase & Co. from C$18.00 to C$17.00 in a research note issued to investors on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 11.73% from the stock’s previous close.

A number of other equities research analysts have also weighed in on FM. Scotiabank reduced their target price 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 report on Thursday, January 16th. Morgan Stanley boosted their price target 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. National Bankshares boosted their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their price target 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$21.47.

First Quantum Minerals Trading Up 6.2 %

FM traded up C$1.12 during trading on Thursday, reaching C$19.26. 1,238,777 shares of the company’s stock were exchanged, compared to its average volume of 1,852,262. First Quantum Minerals has a one year low of C$10.91 and a one year 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 stock has a market capitalization of C$16.06 billion, a PE ratio of -7.44, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The firm has a fifty day moving average price of C$19.12 and a two-hundred day moving average price of C$17.98.

Insider Transactions at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott purchased 1,397 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average price of C$18.57 per share, with a total value of C$25,942.29. Company 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.