Raymond James Increases First Quantum Minerals (TSE:FM) Price Target to C$19.00

First Quantum Minerals (TSE:FM) had its target price hoisted by investment analysts at Raymond James from C$16.00 to C$19.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 20.94% from the company’s previous close. Raymond James also issued estimates for First Quantum Minerals’ Q1 2024 earnings at ($0.10) EPS, Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.01) EPS and FY2024 earnings at ($0.15) EPS.

Several other brokerages also recently commented on FM. Eight Capital boosted their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus set a C$14.00 target price on shares of First Quantum Minerals and gave the company a “hold” rating in a research note on Tuesday, March 26th. Barclays boosted their target price on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. UBS Group set a C$16.00 target price on shares of First Quantum Minerals and gave the company a “neutral” rating in a research note on Tuesday, January 16th. Finally, Scotiabank reduced their price target on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 22nd. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$16.26.

First Quantum Minerals Stock Performance

First Quantum Minerals stock traded down C$0.22 on Tuesday, hitting C$15.71. The company’s stock had a trading volume of 1,229,064 shares, compared to its average volume of 3,027,462. The firm has a market cap of C$13.09 billion, a P/E ratio of -8.42, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21. The company has a fifty day moving average price of C$13.94 and a 200-day moving average price of C$15.17. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The business had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. On average, equities analysts anticipate that First Quantum Minerals will post 0.7906736 earnings per share for the current year.

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.