Analysts have been quite happy with First Quantum Mnrl (TSX: FM) stock lately, with several positive ratings in a row that it received in the past month alone. Raymond James’ analyst Farooq Hamed reiterates their Buy rating on the shares today.
According to TipRanks.com, Hamed has currently no stars on a ranking scale of 0-5 stars, with an average return of -21.8% and a 28.4% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as New Gold Inc, Yamana Gold, and Goldcorp.
Currently, the analyst consensus on First Quantum Mnrl is a Moderate Buy with an average price target of C$21.86, a 49.6% upside from current levels. In a report issued on October 2, Deutsche Bank also maintained a Buy rating on the stock with a C$19 price target.
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The company has a one-year high of C$23.05 and a one-year low of C$13.63. Currently, First Quantum Mnrl has an average volume of 2.7M.
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$14.61, close to its 52-week low of C$13.63.
