First Quantum Minerals (TSE:FM) Price Target Cut to C$10.50
First Quantum Minerals (TSE:FM) had its price target trimmed by National Bank Financial from C$11.75 to C$10.50 in a research report sent to investors on Thursday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock. National Bank Financial also issued estimates for First Quantum Minerals’ FY2019 earnings at $0.48 EPS.
Several other research firms also recently commented on FM. JPMorgan Chase & Co. downgraded First Quantum Minerals from a neutral rating to an underweight rating and decreased their target price for the company from C$14.00 to C$11.00 in a research report on Thursday, June 20th. CSFB decreased their target price on First Quantum Minerals from C$23.00 to C$12.00 in a research report on Tuesday, May 28th. Royal Bank of Canada increased their price target on First Quantum Minerals from C$17.00 to C$18.00 in a research report on Thursday, June 27th. Raymond James increased their price target on First Quantum Minerals from C$16.50 to C$17.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Finally, Macquarie reduced their price target on First Quantum Minerals from C$9.10 to C$9.00 in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. First Quantum Minerals presently has an average rating of Hold and a consensus target price of C$13.65.
Shares of First Quantum Minerals stock traded up C$0.66 on Thursday, hitting C$10.69. The stock had a trading volume of 2,905,753 shares, compared to its average volume of 2,986,993. First Quantum Minerals has a twelve month low of C$7.84 and a twelve month high of C$17.76. The business’s 50 day moving average is C$9.63 and its two-hundred day moving average is C$12.29. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 90.68. The stock has a market cap of $6.59 billion and a price-to-earnings ratio of 18.60.
The business also recently declared a Semi-Annual dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be given a dividend of $0.005 per share. This represents a yield of 0.04%. The ex-dividend date of this dividend is Tuesday, August 27th. First Quantum Minerals’s dividend payout ratio is currently 1.32%.
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 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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