First Quantum Minerals (TSE:FM) Stock Rating Lowered by Canaccord Genuity Group

First Quantum Minerals (TSE:FM) was downgraded by stock analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$20.00 price target on the stock, down from their previous price target of C$24.00. Canaccord Genuity Group’s target price would indicate a potential upside of 6.72% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. CIBC raised their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. Barclays upgraded shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 12th. National Bankshares upped their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group reduced their target price on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$20.93.

First Quantum Minerals Stock Down 3.7 %

TSE:FM traded down C$0.73 during mid-day trading on Thursday, hitting C$18.74. 1,225,979 shares of the company’s stock traded hands, compared to its average volume of 1,781,570. The company has a fifty day moving average of C$19.06 and a 200 day moving average of C$17.88. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45. The company has a market capitalization of C$15.63 billion, a P/E ratio of -7.24, a P/E/G ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling at First Quantum Minerals

In other news, Director Simon John Scott purchased 1,397 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired 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 firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. 19.35% of the stock is owned by insiders.

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.