First Quantum Minerals’ (FM) “Outperform” Rating Reaffirmed at CIBC

First Quantum Minerals (TSE:FM)‘s stock had its “outperform” rating reissued by equities researchers at CIBC in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. They currently have a C$38.50 target price on the stock. CIBC’s price target indicates a potential upside of 59.49% from the stock’s previous close.

Several other research firms also recently weighed in on FM. Jefferies Financial Group raised their price target on First Quantum Minerals to C$47.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. National Bankshares dropped their price target on First Quantum Minerals from C$40.00 to C$38.50 in a research report on Friday, July 16th. Eight Capital raised their price target on First Quantum Minerals from C$31.00 to C$34.00 and gave the stock a “na” rating in a research report on Tuesday, April 20th. The Goldman Sachs Group raised their price target on First Quantum Minerals from C$30.00 to C$40.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 14th. Finally, BMO Capital Markets raised their price target on First Quantum Minerals from C$25.00 to C$27.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. First Quantum Minerals presently has a consensus rating of “Hold” and a consensus target price of C$33.47.

FM stock traded up C$0.43 during midday trading on Thursday, hitting C$24.14. 1,285,777 shares of the stock were exchanged, compared to its average volume of 2,417,654. The stock’s 50-day moving average is C$27.95. The stock has a market capitalization of C$16.67 billion and a PE ratio of 550.00. First Quantum Minerals has a fifty-two week low of C$11.21 and a fifty-two week high of C$35.07. The company has a debt-to-equity ratio of 93.62, a quick ratio of 0.70 and a current ratio of 1.26.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, April 27th. The company reported C$0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.24 by C$0.03. The firm had revenue of C$2.13 billion for the quarter, compared to analyst estimates of C$2 billion. Analysts predict that First Quantum Minerals will post 2.5700002 EPS for the current fiscal year.

In related news, Senior Officer Hannes Meyer sold 25,000 shares of First Quantum Minerals stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of C$30.58, for a total value of C$764,500.00. Following the transaction, the insider now owns 82,997 shares in the company, valued at C$2,538,048.26. Also, Director Philip K.R. Pascall sold 98,413 shares of First Quantum Minerals stock in a transaction on Tuesday, June 15th. The shares were sold at an average price of C$26.40, for a total value of C$2,597,817.80. Following the completion of the transaction, the director now owns 5,872,725 shares in the company, valued at approximately C$155,022,909.10. In the last ninety days, insiders sold 298,413 shares of company stock valued at $9,107,093.

About First Quantum Minerals

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the Pyhäsalmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.

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