Brokerages Set First Quantum Minerals (FM) Price Target at $21.45

Shares of First Quantum Minerals (TSE:FM) have received an average recommendation of “Buy” from the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$21.45.

FM has been the subject of several recent research reports. National Bank Financial lowered shares of First Quantum Minerals from an “outperform spec overweight” rating to a “sector perform overweight” rating in a research note on Monday. JPMorgan Chase lowered their price objective on shares of First Quantum Minerals from C$18.50 to C$17.50 in a research note on Tuesday, March 27th. Jefferies Group lowered their price objective on shares of First Quantum Minerals from C$27.00 to C$21.00 in a research note on Tuesday, March 27th. BMO Capital Markets reissued an “outperform” rating and issued a C$24.00 price objective on shares of First Quantum Minerals in a research note on Wednesday, March 21st. Finally, Scotiabank raised their price objective on shares of First Quantum Minerals from C$21.00 to C$23.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st.

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First Quantum Minerals stock traded down C$0.23 during midday trading on Thursday, hitting C$17.62. 1,532,200 shares of the stock were exchanged, compared to its average volume of 3,219,917. First Quantum Minerals has a fifty-two week low of C$9.69 and a fifty-two week high of C$22.00.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.09 by C$0.19. First Quantum Minerals had a negative net margin of 10.51% and a negative return on equity of 5.12%. The business had revenue of C$1.12 billion during the quarter, compared to analysts’ expectations of C$1.21 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 8th. Stockholders of record on Tuesday, April 17th will be given a dividend of $0.005 per share. The ex-dividend date is Monday, April 16th. This represents a $0.02 annualized dividend and a dividend yield of 0.11%.

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About First Quantum Minerals

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 in seven mines and one copper smelter, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine 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.

Analyst Recommendations for First Quantum Minerals (TSE:FM)

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