First Quantum Minerals (TSE:FM) Price Target Raised to C$46.00 at CIBC

First Quantum Minerals (TSE:FM) had its target price boosted by equities researchers at CIBC from C$36.00 to C$46.00 in a report released on Wednesday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 22.41% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Jefferies Financial Group raised their target price on shares of First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft cut First Quantum Minerals from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$35.00 to C$33.00 in a report on Wednesday, November 26th. Scotiabank upped their target price on First Quantum Minerals from C$35.00 to C$41.00 and gave the company a “sector perform” rating in a research note on Thursday, January 8th. Citigroup increased their target price on First Quantum Minerals from C$26.00 to C$39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, TD Securities lifted their price target on First Quantum Minerals from C$34.00 to C$41.00 in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$40.28.

First Quantum Minerals Price Performance

Shares of TSE:FM traded down C$3.01 during trading on Wednesday, hitting C$37.58. 2,178,358 shares of the stock were exchanged, compared to its average volume of 2,484,597. The company has a fifty day moving average price of C$36.89 and a two-hundred day moving average price of C$30.61. The company has a market cap of C$31.35 billion, a PE ratio of 626.33, a P/E/G ratio of -1.28 and a beta of 1.35. First Quantum Minerals has a 12-month low of C$14.41 and a 12-month high of C$45.17. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, October 28th. The company reported C($0.02) earnings per share (EPS) for the quarter. The business had revenue of C$1.87 billion during the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. On average, analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current year.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.