CIBC Sticks to Their Buy Rating for First Quantum Minerals Ltd (FM)


Shares of First Quantum Minerals Ltd (FM) were revisited by a Wall Street analyst yesterday. Analyst Oscar Cabrera from CIBC reiterated a Buy rating, with a C$17 price target.

According to TipRanks.com, Cabrera has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.1% and a 42.4% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, Teck Resources Limited, and Capstone Mining Corp.

Currently, the analyst consensus on First Quantum Minerals Ltd is a Strong Buy with an average price target of C$17.83, a 17.1% upside from current levels. In a report issued on February 19, BMO Capital also maintained a Buy rating on the stock with a C$18 price target.

.

The company has a one-year high of C$23.05 and a one-year low of C$9.45. Currently, First Quantum Minerals Ltd has an average volume of 3.24M.

First Quantum Minerals Ltd. engages in the production of copper, nickel, gold, zinc, and acid. It has operating mines in Zambia, Finland, Turkey, Spain, and Mauritania. It also develops Cobre Panama copper project in Panama, exploring the Haquira copper deposit in Peru, and the Taca Taca copper-gold-molybdenum deposit in Argentina.

The company’s shares closed on Friday at C$15.23.