First Quantum Minerals (TSE:FM) Upgraded by Barclays to “Overweight” Rating

First Quantum Minerals (TSE:FM) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday,BayStreet.CA reports.

A number of other research firms also recently weighed in on FM. JPMorgan Chase & Co. lowered their target price on First Quantum Minerals from C$20.00 to C$18.00 in a report on Friday. Royal Bank of Canada increased their price target on First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Cormark decreased their target price on First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating for the company in a research report on Thursday, July 25th. Scotiabank upped their target price on First Quantum Minerals from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped their price objective on shares of First Quantum Minerals from C$19.40 to C$20.20 in a research report on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$20.72.

First Quantum Minerals Stock Down 0.1 %

Shares of TSE FM traded down C$0.02 on Tuesday, reaching C$18.93. 1,037,676 shares of the company’s stock traded hands, compared to its average volume of 2,614,302. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The company has a market cap of C$15.79 billion, a price-to-earnings ratio of -7.30, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The business’s 50 day simple moving average is C$17.60 and its two-hundred day simple moving average is C$17.36. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$20.76.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. Corporate insiders own 19.35% of the company’s stock.

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.