First Quantum Minerals Ltd (FM), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Oscar Cabrera from CIBC remains bullish on the stock and has a C$16 price target.
According to TipRanks.com, Cabrera has 0 stars on 0-5 star ranking scale with an average return of -18.7% and a 24.7% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources Ltd, First Quantum Minerals Ltd, and Teck Resources Limited.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Quantum Minerals Ltd with a C$15.29 average price target, implying a 26.3% upside from current levels. In a report released yesterday, Barclays also reiterated a Buy rating on the stock with a C$16 price target.
Based on First Quantum Minerals Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$104 million. In comparison, last year the company had a net profit of C$174 million.
First Quantum Minerals Ltd. engages in the production, exploration and development of copper, nickel, gold, zinc and acid, and related activities. It operates through the following segments: Kansanshi, Sentinel, Las Cruces, Guelb Moghrein, Çayeli, Pyhäsalmi, Ravensthorpe, and Corporate and Other.
The company’s shares closed on Wednesday at C$12.11.