In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on First Quantum Minerals (FQVLF), with a price target of C$35.00. The company’s shares closed last Wednesday at $24.53, close to its 52-week high of $25.25.
According to TipRanks.com, Baretto is a 5-star analyst with an average return of 32.1% and a 60.8% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, Hecla Mining Company, and Fortuna Silver Mines.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Quantum Minerals with a $27.00 average price target, implying a 12.8% upside from current levels. In a report issued on April 14, Goldman Sachs also maintained a Buy rating on the stock with a C$40.00 price target.
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The company has a one-year high of $25.25 and a one-year low of $5.21. Currently, First Quantum Minerals has an average volume of 68.93K.
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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, Cobre Panama, Las Cruces, Guelb Moghrein, Çayeli, Pyhäsalmi, Ravensthorpe, and Corporate and Other. The Corporate and Other segment deals with the evaluation and acquisition of new mineral properties, regulatory reporting, treasury and finance, and corporate administration. The company was founded by Philip K.R. Pascall, Geoffrey Clive Newall, and Martin R. Rowley on December 21, 1983 and is headquartered in Toronto, Canada.
