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TD Securities Reiterates Their Buy Rating on First Quantum Mnrl (FM)


In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, First Quantum Mnrl (TSX: FM). Analyst Greg Barnes from TD Securities remains bullish on the stock and has a C$28 price target.

According to TipRanks.com, Barnes has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.4% and a 39.4% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Centerra Gold Inc, Franco Nev Corp, and Agnico Eagle.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Quantum Mnrl with a C$23.10 average price target, which is a 57.0% upside from current levels. In a report issued on September 16, RBC Capital also reiterated a Buy rating on the stock with a C$20 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 2.71M.

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$14.71, close to its 52-week low of C$13.63.