First Quantum Minerals Ltd. (TSE:FM)’s share price dropped 4% on Tuesday . The company traded as low as C$14.48 and last traded at C$14.63. Approximately 1,361,724 shares were traded during trading, a decline of 50% from the average daily volume of 2,724,720 shares. The stock had previously closed at C$15.24.
FM has been the topic of a number of research reports. CIBC lowered their target price on First Quantum Minerals from C$15.50 to C$15.00 in a research report on Wednesday, November 1st. Raymond James Financial upped their target price on First Quantum Minerals from C$16.00 to C$18.00 in a research report on Monday, October 23rd. Scotiabank reaffirmed an “outperform” rating and set a C$17.00 target price on shares of First Quantum Minerals in a research report on Monday, October 30th. Deutsche Bank upped their target price on First Quantum Minerals from C$18.00 to C$19.00 in a research report on Friday, October 13th. Finally, Barclays upped their target price on First Quantum Minerals from C$12.65 to C$15.10 in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$17.60.
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About First Quantum Minerals
First Quantum Minerals Ltd. is engaged in the production of copper, nickel, gold, zinc and acid, and related activities, including exploration and development. The Company’s segments include individual mine development projects or mine operations and the Corporate & other segment. The Corporate & other segment is responsible for the evaluation and acquisition of mineral properties, regulatory reporting, treasury and finance and corporate administration.
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