Goldman Sachs Group Inc. Increases First Quantum Minerals Limited (FM) Price Target to C$8.00
First Quantum Minerals Limited (TSE:FM) had its price target upped by analysts at Goldman Sachs Group Inc. from C$5.50 to C$8.00 in a note issued to investors on Wednesday. The brokerage currently has a “sell” rating on the stock. Goldman Sachs Group Inc.’s price target would suggest a potential downside of 44.33% from the company’s previous close.
FM has been the subject of a number of other research reports. Barclays PLC reduced their target price on First Quantum Minerals Limited from C$10.00 to C$9.20 in a report on Wednesday, September 21st. CSFB increased their target price on First Quantum Minerals Limited from C$13.00 to C$13.50 in a report on Monday, October 17th. BNP Paribas set a C$8.60 target price on First Quantum Minerals Limited in a report on Friday, July 29th. Canaccord Genuity increased their target price on First Quantum Minerals Limited from C$11.75 to C$13.50 in a report on Friday, July 29th. Finally, Jefferies Group increased their target price on First Quantum Minerals Limited from C$14.00 to C$16.00 and gave the company a “buy” rating in a report on Monday, October 31st. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of C$10.40.
First Quantum Minerals Limited (TSE:FM) opened at 14.37 on Wednesday. The firm’s 50 day moving average price is $12.03 and its 200-day moving average price is $10.53. First Quantum Minerals Limited has a 52 week low of $2.15 and a 52 week high of $15.74. The firm has a market cap of $9.85 billion and a PE ratio of 208.26.
About First Quantum Minerals Limited
First Quantum Minerals Ltd. is an international mining company. The Company is engaged in mineral exploration, mine engineering and construction, development and mining. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements (PGE) and pyrite. Its operations and development projects are located in Zambia, Mauritania, Spain, Turkey, Finland, Australia, Panama, Peru and Argentina.
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