First Quantum Minerals (TSE:FM) PT Raised to C$19.00

First Quantum Minerals (TSE:FM) had its target price hoisted by research analysts at Raymond James from C$16.00 to C$19.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Raymond James’ target price indicates a potential upside of 19.20% from the stock’s current price. 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.

Other equities analysts have also recently issued reports about the stock. Barclays upped 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. Citigroup reduced their target price on shares of First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating for the company in a research note on Wednesday, January 10th. CIBC lifted their target price on First Quantum Minerals from C$14.00 to C$15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. UBS Group set a C$16.00 price target on First Quantum Minerals and gave the company a “neutral” rating in a report on Tuesday, January 16th. Finally, National Bankshares raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$15.00 to C$16.50 in a report on Friday, March 1st. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and an average price target of C$16.85.

First Quantum Minerals Trading Up 2.7 %

First Quantum Minerals stock opened at C$15.94 on Tuesday. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$39.13. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. The firm has a market capitalization of C$13.29 billion, a PE ratio of -8.52, a PEG ratio of -1.28 and a beta of 2.01. The business’s 50-day simple moving average is C$14.10 and its 200-day simple moving average is C$15.08.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing the consensus estimate of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.58 billion. Equities research analysts forecast 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.