JPMorgan Chase & Co. cut shares of First Quantum Minerals (TSE:FM) from a neutral rating to an underweight rating in a report released on Thursday, June 20th, BayStreet.CA reports. They currently have C$11.00 target price on the stock, down from their prior target price of C$14.00.
Other equities research analysts have also recently issued research reports about the stock. TD Securities cut shares of First Quantum Minerals from an action list buy rating to a buy rating and reduced their target price for the company from C$21.00 to C$18.50 in a research report on Thursday, May 23rd. Raymond James reaffirmed an average rating and set a $16.00 price objective on shares of Aeroflex in a research report on Wednesday, May 1st. Citigroup cut shares of First Quantum Minerals from a buy rating to a neutral rating and cut their price objective for the stock from C$18.00 to C$13.00 in a research report on Tuesday, May 21st. National Bank Financial cut shares of Toronto-Dominion Bank from an outperform rating to a sector perform rating in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada upped their price objective on shares of Shopify from C$230.00 to C$265.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. First Quantum Minerals presently has an average rating of Buy and a consensus target price of C$16.03.
Shares of TSE:FM traded up C$0.04 on Thursday, hitting C$11.43. The company had a trading volume of 1,397,700 shares, compared to its average volume of 2,917,015. First Quantum Minerals has a 1-year low of C$9.45 and a 1-year high of C$20.63. The company has a market cap of $7.83 billion and a PE ratio of 17.58. The stock’s 50 day moving average is C$11.15. The company has a current ratio of 2.10, a quick ratio of 1.25 and a debt-to-equity ratio of 87.75.
About First Quantum Minerals
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 seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter 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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