First Quantum Minerals (FM) Cut to “Neutral” at Citigroup

Citigroup downgraded shares of First Quantum Minerals (TSE:FM) from a buy rating to a neutral rating in a report released on Tuesday, BayStreet.CA reports. They currently have C$13.00 price objective on the stock, down from their previous price objective of C$18.00.

FM has been the subject of several other research reports. Raymond James cut their price objective on First Quantum Minerals from C$21.00 to C$19.00 in a research report on Monday, April 8th. BMO Capital Markets cut their price objective on First Quantum Minerals from C$18.00 to C$17.00 and set an outperform rating for the company in a research report on Monday, April 1st. JPMorgan Chase & Co. boosted their price objective on First Quantum Minerals from C$16.20 to C$16.70 in a research report on Thursday, January 31st. CIBC boosted their price objective on First Quantum Minerals from C$17.00 to C$18.00 in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity cut their price objective on First Quantum Minerals from C$18.50 to C$18.00 in a research report on Monday, January 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of C$17.22.

TSE FM opened at C$9.82 on Tuesday. First Quantum Minerals has a twelve month low of C$9.45 and a twelve month high of C$23.05. The company has a quick ratio of 1.25, a current ratio of 2.10 and a debt-to-equity ratio of 87.75. The stock has a market cap of $6.75 billion and a P/E ratio of 15.11.

About First Quantum Minerals

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

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Analyst Recommendations for First Quantum Minerals (TSE:FM)

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