Morgan Stanley Forecasts Strong Price Appreciation for First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals (TSE:FM) had its price objective increased by Morgan Stanley from C$20.20 to C$22.00 in a report published on Thursday,BayStreet.CA reports. The firm currently has an equal weight rating on the stock.

FM has been the subject of several other reports. Barclays raised shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on First Quantum Minerals from C$20.00 to C$18.00 in a report on Friday, November 8th. National Bankshares increased their price target on First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Scotiabank lifted their price objective on First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th. Finally, CIBC increased their target price on First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$21.05.

First Quantum Minerals Stock Down 3.9 %

Shares of FM opened at C$19.46 on Thursday. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$21.45. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The company has a market capitalization of C$16.23 billion, a PE ratio of -7.51, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The business’s 50 day moving average is C$18.72 and its 200 day moving average is C$17.70.

Insider Activity at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. 19.35% of the stock is currently owned by company insiders.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.