First Quantum Minerals (FM) Hits New 52-Week Low at $13.71
First Quantum Minerals Limited (TSE:FM) shares hit a new 52-week low on Wednesday . The stock traded as low as C$13.71 and last traded at C$13.79, with a volume of 1052413 shares trading hands. The stock had previously closed at C$14.00.
Several brokerages have recently weighed in on FM. Barclays upped their target price on shares of First Quantum Minerals from C$19.00 to C$19.40 and gave the company a “c$19.12” rating in a research note on Wednesday, July 18th. National Bank Financial upped their target price on shares of First Quantum Minerals from C$20.50 to C$21.25 and gave the company a “sector perform” rating in a research note on Wednesday, August 1st. Deutsche Bank upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and upped their target price for the company from C$21.00 to C$23.00 in a research note on Wednesday, July 11th. CIBC decreased their target price on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, August 31st. Finally, Macquarie upgraded shares of First Quantum Minerals from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 25th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of C$20.25.
First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Monday, July 30th. The company reported C$0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.28 by C$0.06. The firm had revenue of C$1.35 billion for the quarter, compared to analysts’ expectations of C$1.28 billion. First Quantum Minerals had a negative net margin of 10.51% and a negative return on equity of 5.12%.
About First Quantum Minerals (TSE:FM)
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 in seven mines and one copper smelter, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine 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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