First Quantum Minerals (TSE:FM) had its target price cut by National Bank Financial from C$16.00 to C$13.50 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 37.47% from the company’s current price.
Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets cut their target price on shares of First Quantum Minerals from C$18.00 to C$17.00 and set an “outperform” rating for the company in a research note on Monday, April 1st. Canaccord Genuity cut their target price on shares of First Quantum Minerals from C$18.50 to C$18.00 in a research note on Monday, January 28th. CIBC raised their price objective on shares of First Quantum Minerals from C$17.00 to C$18.00 in a research report on Wednesday, April 3rd. Goldman Sachs Group downgraded shares of First Quantum Minerals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 12th. Finally, Jefferies Financial Group set a C$19.00 price objective on shares of First Quantum Minerals in a research report on Thursday, February 7th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. First Quantum Minerals presently has an average rating of “Buy” and an average target price of C$17.22.
Shares of TSE:FM opened at C$9.82 on Thursday. First Quantum Minerals has a 52-week low of C$9.45 and a 52-week high of C$23.05. The stock has a market capitalization of $6.75 billion and a P/E ratio of 15.11. The company has a debt-to-equity ratio of 87.75, a current ratio of 2.10 and a quick ratio of 1.25.
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 seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter 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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