First Quantum Minerals Limited (FM) Receives C$21.00 Average PT from Brokerages

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First Quantum Minerals Limited (TSE:FM) has been given a consensus rating of “Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$21.00.

Several equities research analysts have recently weighed in on the stock. Deutsche Bank raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$21.00 to C$23.00 in a research report on Wednesday, July 11th. Canaccord Genuity boosted their target price on shares of First Quantum Minerals from C$20.00 to C$20.50 in a research report on Friday, May 25th. Cormark boosted their target price on shares of First Quantum Minerals from C$11.00 to C$14.00 in a research report on Friday, May 11th. CIBC dropped their target price on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, August 31st. Finally, Deutsche Bank downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$23.00 to C$21.00 in a research report on Friday, May 25th.

Shares of FM stock traded down C$0.17 during mid-day trading on Monday, reaching C$14.58. The company’s stock had a trading volume of 3,339,900 shares, compared to its average volume of 2,722,696. First Quantum Minerals has a 12-month low of C$12.82 and a 12-month high of C$23.05.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Monday, July 30th. The company reported C$0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.28 by C$0.06. First Quantum Minerals had a negative net margin of 10.51% and a negative return on equity of 5.12%. The firm had revenue of C$1.35 billion for the quarter, compared to the consensus estimate of C$1.28 billion.

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 19th will be paid a dividend of $0.005 per share. This represents a yield of 0.02%. The ex-dividend date is Monday, August 27th.

First Quantum Minerals Company Profile

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 in seven mines and one copper smelter, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine 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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Analyst Recommendations for First Quantum Minerals (TSE:FM)

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