First Quantum Minerals (TSE:FM) Rating Increased to Hold at Stifel Canada

First Quantum Minerals (TSE:FM) was upgraded by equities researchers at Stifel Canada to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. TD Securities boosted their target price on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Royal Bank of Canada upped their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Barclays reduced their price target on First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Morgan Stanley boosted their target price 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 reduced their price objective for the company from C$24.00 to C$20.00 in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$21.57.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$23.12 on Wednesday. The firm has a market cap of C$13.12 billion, a price-to-earnings ratio of -8.54, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 1 year low of C$13.30 and a 1 year high of C$23.24. The stock’s 50-day moving average is C$18.93 and its two-hundred day moving average is C$18.42. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same period in the previous year, the business earned ($0.37) earnings per share. Analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Buying and Selling

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 25,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of C$17.23 per share, with a total value of C$430,842.13. Also, Director Simon John Scott purchased 1,397 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired at an average cost of C$18.57 per share, with a total value of C$25,942.29. 19.35% of the stock is currently owned by company insiders.

First Quantum Minerals Company Profile

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.