First Quantum Minerals (TSE:FM – Get Free Report) had its price target upped by research analysts at Morgan Stanley from C$31.00 to C$32.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 0.53% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the company. Raymond James raised their price objective on First Quantum Minerals from C$32.00 to C$35.00 in a report on Wednesday, August 16th. TD Securities upped their price target on shares of First Quantum Minerals from C$41.00 to C$44.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Barclays dropped their price target on shares of First Quantum Minerals from C$27.00 to C$26.00 in a research note on Friday, July 7th. Canaccord Genuity Group reduced their price objective on shares of First Quantum Minerals from C$39.00 to C$38.00 in a research note on Tuesday, July 18th. Finally, Stifel Nicolaus lowered First Quantum Minerals from a “buy” rating to a “hold” rating and set a C$39.00 target price for the company. in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, First Quantum Minerals presently has an average rating of “Hold” and a consensus price target of C$35.39.
First Quantum Minerals Stock Performance
First Quantum Minerals (TSE:FM – Get Free Report) last released its earnings results on Tuesday, July 25th. The company reported C$0.15 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.05). First Quantum Minerals had a net margin of 5.88% and a return on equity of 3.29%. The company had revenue of C$2.22 billion for the quarter, compared to the consensus estimate of C$2.27 billion. On average, equities analysts forecast that First Quantum Minerals will post 2.1672817 EPS for the current year.
Insiders Place Their Bets
In related news, Senior Officer Zenon Wozniak sold 55,647 shares of First Quantum Minerals stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of C$33.38, for a total transaction of C$1,857,496.86. Insiders own 19.76% of the company’s stock.
About First Quantum Minerals
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.
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