First Quantum Minerals (FM) Shares Up 3.6% After Analyst Upgrade
Shares of First Quantum Minerals Limited (TSE:FM) shot up 3.6% during mid-day trading on Friday after Berenberg Bank raised their price target on the stock from C$14.25 to C$19.00. The stock traded as high as C$17.74 and last traded at C$17.72. 3,716,645 shares were traded during mid-day trading, an increase of 26% from the average session volume of 2,949,665 shares. The stock had previously closed at C$17.11.
A number of other equities analysts also recently commented on FM. Scotiabank set a C$22.00 price objective on shares of First Quantum Minerals and gave the stock an “outperform” rating in a report on Monday, January 29th. Canaccord Genuity downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Monday, January 29th. National Bank Financial raised shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a report on Thursday, January 25th. TD Securities reduced their price objective on shares of First Quantum Minerals from C$26.00 to C$25.00 and set a “buy” rating for the company in a report on Friday, January 26th. Finally, CSFB downgraded shares of First Quantum Minerals from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$20.22.
The stock has a market cap of $12,190.00, a price-to-earnings ratio of -50.51 and a beta of 3.02.
About First Quantum Minerals
First Quantum Minerals Ltd. is engaged in the production of copper, nickel, gold, zinc and acid, and related activities, including exploration and development. The Company’s segments include individual mine development projects or mine operations and the Corporate & other segment. The Corporate & other segment is responsible for the evaluation and acquisition of mineral properties, regulatory reporting, treasury and finance and corporate administration.
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