BMO Capital Markets increases First Quantum Minerals (TSE: FM) target price to C $ 35.00


First Quantum Minerals (TSE: FM) raised its BMO Capital Markets price target from C $ 32.50 to C $ 35.00 in a research note issued to investors on Thursday, BayStreet.CA reports. BMO Capital Markets price target would suggest a potential rise of 29.29% from the company’s previous close.

Other research analysts have also recently published reports on the company. Canaccord Genuity raised its target price on First Quantum Minerals from C $ 35.00 to C $ 36.00 in a research note on Tuesday, October 19. TD Securities reduced its price target for First Quantum Minerals from C $ 40.00 to C $ 39.00 and established a “buy” rating for the company in a research note on Wednesday, October 27. National Bank Financial reduced its price target for First Quantum Minerals from C $ 37.50 to C $ 36.50 and established an “outperformance” rating for the company in a research note on Friday, September 10. Scotiabank increased its target price on First Quantum Minerals from C $ 35.00 to C $ 37.00 and assigned the stock a “sector performance” rating in a research note on Tuesday, November 2. Finally, Eight Capital raised its price target on First Quantum Minerals from C $ 34.00 to C $ 35 in a research note on Thursday, October 21. Two research analysts rated the stock with a sell rating, seven issued a conservation rating, and eight gave the company a buy rating. Based on MarketBeat data, the company has an average rating of “Hold” and an average target price of C $ 33.82.

TSE FM traded down C $ 0.22 on Thursday, reaching C $ 27.07. 680,513 company shares were traded, for an average volume of 2,259,805. The company’s fifty-day moving average price is C $ 26.12 and its 200-day moving average price is 26.96 $ CA. The stock has a market capitalization of C $ 18.71 billion and a price-to-earnings ratio of 25.06. The company has a current ratio of 1.89, a quick ratio of 1.14 and a debt ratio of 85.51. First Quantum Minerals has a 52-week low at C $ 16.43 and a 52-week high of C $ 35.07.

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Separately, senior executive Zenon Wozniak sold 11,671 shares of the company in a trade on Friday, October 29. The shares were sold for an average price of C $ 28.30, for a total value of C $ 330,289.30. After the sale closes, the insider now owns 16,421 shares of the company, valued at approximately C $ 464,714.30.

About First Quantum Minerals

First Quantum Minerals Ltd. is dedicated to the exploration, development and production of mineral properties. It mainly explores the ores of copper, nickel, pyrite, gold, silver and zinc, and produces acid. The company owns a 100% interest in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in the North West Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the Pyhäsalmi copper, pyrite and zinc mine in Finland; and the Ayeli copper-zinc mine in Turkey.

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Analyst Recommendations for First Quantum Minerals (TSE: FM)

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