National Bank Financial Cuts First Quantum Minerals (TSE:FM) Price Target to C$10.50

First Quantum Minerals (TSE:FM) had its price target decreased by equities research analysts at National Bank Financial from C$11.75 to C$10.50 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s target price points to a potential upside of 4.69% from the company’s previous close.

A number of other equities research analysts also recently weighed in on FM. Jefferies Financial Group dropped their price target on shares of First Quantum Minerals from C$14.50 to C$14.00 in a research note on Tuesday, August 6th. JPMorgan Chase & Co. downgraded shares of First Quantum Minerals from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from C$14.00 to C$11.00 in a research note on Thursday, June 20th. Deutsche Bank dropped their price target on shares of First Quantum Minerals from C$13.50 to C$11.00 in a research note on Wednesday, September 4th. Raymond James boosted their price target on shares of First Quantum Minerals from C$16.50 to C$17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Bank of America downgraded shares of First Quantum Minerals from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from C$13.50 to C$8.00 in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$13.65.

Shares of FM stock traded up C$0.79 during trading hours on Thursday, reaching C$10.03. 5,858,748 shares of the company were exchanged, compared to its average volume of 2,953,788. First Quantum Minerals has a fifty-two week low of C$7.84 and a fifty-two week high of C$17.76. The stock’s fifty day moving average is C$9.63 and its two-hundred day moving average is C$12.29. The company has a market cap of $6.59 billion and a price-to-earnings ratio of 17.45. The company has a debt-to-equity ratio of 90.68, a current ratio of 1.71 and a quick ratio of 0.99.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Monday, July 29th. The company reported C$0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.10 by C$0.07. The business had revenue of C$1.26 billion for the quarter, compared to the consensus estimate of C$1.34 billion. On average, research analysts anticipate that First Quantum Minerals will post 0.64 earnings per share for the current year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

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Analyst Recommendations for First Quantum Minerals (TSE:FM)

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