First Quantum Minerals Limited (TSE:FM) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from C$15.72 to C$2.90 in a research note issued on Monday, StockTargetPrices.com reports. JPMorgan Chase & Co.’s target price would suggest a potential downside of 6.15% from the company’s current price.
Shares of First Quantum Minerals Limited (TSE:FM) traded up 5.18% during trading on Monday, hitting $3.25. The stock had a trading volume of 2,000,536 shares. The company’s market capitalization is $2.22 billion. First Quantum Minerals Limited has a 52 week low of $2.87 and a 52 week high of $19.83. The firm has a 50-day moving average price of $4.59 and a 200 day moving average price of $7.57.
Other analysts have also issued reports about the company. Credit Suisse decreased their price objective on First Quantum Minerals Limited from C$17.50 to C$12.50 in a research note on Monday, September 21st. CSFB decreased their price objective on First Quantum Minerals Limited from C$17.50 to C$12.50 in a research note on Monday, September 21st. Goldman Sachs reduced their target price on First Quantum Minerals Limited from C$12.60 to C$6.00 in a research report on Thursday, September 24th. Scotiabank reduced their target price on First Quantum Minerals Limited from C$14.50 to C$10.50 in a research report on Tuesday, September 29th. Finally, CIBC reduced their target price on First Quantum Minerals Limited from C$26.00 to C$19.00 in a research report on Friday, October 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$12.97.
First Quantum Minerals Ltd. is a Canada-based mining and metals company. The Company is engaged in the production of copper, nickel, gold, zinc, platinum group elements (TSE:FM) and acid, and related activities, including exploration and development. Its operating mines are located in Zambia, Australia, Finland, Turkey, Spain and Mauritania. The Company’s operations include the Kansanshi copper-gold mine, the Guelb Moghrein copper-gold mine, the Las Cruces copper mine, the Kevitsa nickel-copper-PGE mine, the Pyhasalmi copper-zinc mine, the Ravensthorpe nickel-cobalt mine and the Cayeli copper-zinc mine. The Company is developing the Trident project in Zambia, the Cobre Panama copper project in Panama, exploring the Haquira copper deposit in Peru and the Taca Taca copper-gold-molybdenum porphyry deposit in Argentina. Its subsidiareies include Kansanshi Mining Plc, First Quantum Mining and Operations Limited, Mauritanian Copper Mines SARL and FQM Kevitsa Mining OY, among others. 