First Quantum Minerals (TSE:FM) Upgraded to “Hold” at Desjardins

Desjardins upgraded shares of First Quantum Minerals (TSE:FM) to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Barclays decreased their price objective on First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Stifel Canada raised First Quantum Minerals to a “hold” rating in a research note on Wednesday, March 19th. Royal Bank of Canada upped their price target on First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Finally, Scotiabank cut their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Hold” and an average price target of C$21.57.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock opened at C$16.00 on Thursday. The business’s 50 day moving average price is C$19.20 and its 200 day moving average price is C$18.72. The company has a market cap of C$9.08 billion, a price-to-earnings ratio of -5.91, a PEG ratio of -1.28 and a beta of 1.73. 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 has a one year low of C$13.81 and a one year high of C$23.28.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter last year, the firm posted ($0.37) EPS. On average, research analysts predict that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Transactions at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 40,000 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Charles Kevin Mcarthur bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of C$17.23 per share, for a total transaction of C$430,842.13. Corporate insiders own 19.35% of the company’s stock.

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.