In a report issued on May 14, Sam Crittenden from RBC Capital reiterated a Buy rating on First Quantum Minerals (FQVLF), with a price target of C$12.00. The company’s shares closed last Monday at $5.71.
According to TipRanks.com, Crittenden is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -13.9% and a 28.6% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, Nexa Resources SA, and Freeport-McMoRan.
Currently, the analyst consensus on First Quantum Minerals is a Moderate Buy with an average price target of $8.20, representing a 49.6% upside. In a report issued on April 29, CIBC also maintained a Buy rating on the stock with a C$10.00 price target.
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Based on First Quantum Minerals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.18 billion and GAAP net loss of $62 million. In comparison, last year the company earned revenue of $857 million and had a net profit of $53 million.
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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.
