First Quantum Minerals (TSE:FM) Price Target Raised to C$18.00 at JPMorgan Chase & Co.

First Quantum Minerals (TSE:FM) had its target price boosted by investment analysts at JPMorgan Chase & Co. from C$12.00 to C$18.00 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 21.79% from the stock’s previous close.

A number of other equities analysts have also weighed in on FM. CIBC dropped their price objective on First Quantum Minerals from C$15.00 to C$14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Bank of America upped their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Canaccord Genuity Group boosted their price target on shares of First Quantum Minerals from C$21.00 to C$22.00 in a research note on Wednesday. UBS Group set a C$16.00 price objective on First Quantum Minerals and gave the company a “neutral” rating in a research report on Tuesday, January 16th. Finally, TD Securities boosted their target price on First Quantum Minerals from C$14.50 to C$15.50 and gave the stock a “hold” rating in a research report on Monday, March 4th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$16.02.

First Quantum Minerals Stock Performance

Shares of FM stock traded down C$0.69 during mid-day trading on Wednesday, reaching C$14.78. 3,043,059 shares of the company’s stock traded hands, compared to its average volume of 3,031,430. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$39.13. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. The firm has a market capitalization of C$12.32 billion, a PE ratio of -7.90, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The firm has a 50 day moving average price of C$13.65 and a two-hundred day moving average price of C$15.58.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). The firm had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. On average, research analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current year.

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.