First Quantum Minerals (TSE:FM) Given New C$17.00 Price Target at Raymond James

First Quantum Minerals (TSE:FM) had its target price boosted by Raymond James from C$16.50 to C$17.00 in a research report report published on Wednesday, July 31st, Stock Target Advisor reports. Raymond James currently has an outperform rating on the stock. Raymond James also issued estimates for First Quantum Minerals’ Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.50 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.32 EPS, Q3 2020 earnings at $0.34 EPS, Q4 2020 earnings at $0.37 EPS, FY2020 earnings at $1.31 EPS and FY2021 earnings at $1.16 EPS.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of First Quantum Minerals from a neutral rating to an underweight rating and decreased their price target for the stock from C$14.00 to C$11.00 in a research note on Thursday, June 20th. National Bank Financial lowered their price objective on shares of First Quantum Minerals from C$16.00 to C$13.50 and set a sector perform rating on the stock in a research report on Thursday, May 23rd. Canaccord Genuity downgraded shares of First Quantum Minerals from a buy rating to a hold rating and increased their price objective for the company from C$16.00 to C$17.00 in a research report on Monday, April 15th. CSFB lowered their price objective on shares of First Quantum Minerals from C$23.00 to C$12.00 in a research report on Tuesday, May 28th. Finally, Deutsche Bank lowered their price objective on shares of First Quantum Minerals from C$14.50 to C$14.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. First Quantum Minerals presently has a consensus rating of Hold and a consensus price target of C$14.02.

Shares of TSE:FM traded down C$0.39 during mid-day trading on Wednesday, reaching C$8.41. The company had a trading volume of 2,293,900 shares, compared to its average volume of 2,906,697. First Quantum Minerals has a one year low of C$8.31 and a one year high of C$18.49. The firm has a market cap of $5.76 billion and a price-to-earnings ratio of 14.68. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 90.68. The company’s 50-day moving average price is C$10.96 and its 200-day moving average price is C$12.82.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be paid a $0.005 dividend. The ex-dividend date is Tuesday, August 27th. This represents a dividend yield of 0.04%. First Quantum Minerals’s 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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