Barclays Lowers First Quantum Minerals (TSE:FM) Price Target to C$23.40

First Quantum Minerals (TSE:FM) had its price target lowered by equities researchers at Barclays from C$25.00 to C$23.40 in a report issued on Thursday,BayStreet.CA reports. Barclays‘s price objective would indicate a potential upside of 22.26% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Canaccord Genuity Group cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$24.00 to C$20.00 in a report on Thursday, January 16th. CIBC boosted their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Morgan Stanley increased their price target on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Scotiabank reduced their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada increased their target price on First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$21.47.

First Quantum Minerals Price Performance

TSE FM traded up C$1.00 on Thursday, hitting C$19.14. 988,137 shares of the company’s stock were exchanged, compared to its average volume of 1,848,725. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 52 week low of C$10.91 and a 52 week high of C$21.45. The stock has a market cap of C$15.96 billion, a price-to-earnings ratio of -7.39, a P/E/G ratio of -1.28 and a beta of 1.73. The stock has a 50-day moving average of C$19.12 and a 200-day moving average of C$17.98.

Insider Buying and Selling

In related news, Director Simon John Scott bought 1,397 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were purchased at an average price of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. 19.35% of the stock is currently owned by corporate insiders.

First Quantum Minerals Company Profile

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.