Royal Bank Of Canada Forecasts Strong Price Appreciation for First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals (TSE:FM) had its price target lifted by equities researchers at Royal Bank Of Canada from C$35.00 to C$40.00 in a research report issued on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s price target would suggest a potential upside of 21.32% from the stock’s previous close.

Several other research analysts have also recently weighed in on FM. Citigroup increased their price objective on First Quantum Minerals from C$26.00 to C$39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered First Quantum Minerals from a “buy” rating to a “hold” rating and decreased their target price for the company from C$35.00 to C$33.00 in a research report on Wednesday, November 26th. Jefferies Financial Group lifted their target price on shares of First Quantum Minerals from C$33.00 to C$38.00 in a research report on Monday, October 6th. Barclays increased their target price on First Quantum Minerals from C$27.30 to C$38.00 in a research report on Friday, October 10th. Finally, Scotiabank upped their target price on shares of First Quantum Minerals from C$34.00 to C$35.00 in a research report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$34.41.

First Quantum Minerals Stock Performance

First Quantum Minerals stock traded up C$0.72 during trading hours on Wednesday, hitting C$32.97. The stock had a trading volume of 593,998 shares, compared to its average volume of 2,362,944. The company has a market cap of C$27.50 billion, a PE ratio of 549.50, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. First Quantum Minerals has a fifty-two week low of C$14.41 and a fifty-two week high of C$33.88. The company has a 50-day moving average of C$30.66 and a two-hundred day moving average of C$26.19.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share (EPS) for the quarter. The business had revenue of C$1.87 billion during the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. On average, equities research analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Quantum Minerals news, Director Charles Kevin Mcarthur acquired 10,000 shares of the stock in a transaction on Friday, October 31st. The stock was acquired at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the transaction, the director directly owned 35,000 shares of the company’s stock, valued at C$1,017,100. This trade represents a 40.00% increase in their ownership of the stock. Insiders have acquired a total of 10,474 shares of company stock valued at $304,575 in the last quarter. Insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.