Raymond James Sticks to Their Buy Rating for First Quantum Minerals Ltd (FM)
Shares of First Quantum Minerals Ltd (FM) were revisited by a Wall Street analyst today. Raymond James’ analyst Farooq Hamed reiterates their Buy rating on the shares, with a C$17 price target.
According to TipRanks.com, Hamed ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.6% and a 36.4% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, Detour Gold Corporation, and Hudbay Minerals Inc.
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First Quantum Minerals Ltd has an analyst consensus of Moderate Buy, with a price target consensus of C$15.29, 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.
First Quantum Minerals Ltd’s market cap is currently C$8.36B and has a P/E ratio of 13.5. The company has a Price to Book ratio of 0.65.
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.