Has Scotia Capital Gained Confidence in First Quantum Minerals (TSE:FM) After Recent Upgrade


First Quantum Minerals (TSE:FM) Stock Upgrade

Shares of First Quantum Minerals (TSE:FM) were raised to a solid Outperform rating thanks to expert analysts at Scotia Capital, who now give it a target price per share of $11.00. The firm’s previous Sector Perform rating has been canceled.

From a total of 27 analysts covering First Quantum Minerals (TSE:FM) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $14.07 while the lowest target price is $3.59. The mean of all analyst targets is $7.96 with a 177.17% above today’s ($4.6) stock price. First Quantum Minerals was the topic of 35 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Raymond James upgraded shares on December 4 to “Strong Buy” rating. RBC Capital Markets maintained FM stock in a recent report from November 6 with “Sector Perform” rating. Finally, Citigroup maintained the stock with “Buy” rating in a report issued on an October 7.

The stock increased 18.86% or $0.73 on December 18, striking $4.6. Approximately 15.60M shares of stock traded hands or 524.00% up from the average. First Quantum Minerals Limited (TSE:FM) has declined 75.32% since May 18, 2015 and is downtrending. It has underperformed by 71.51% the S&P500.

 Has Scotia Capital Gained Confidence in First Quantum Minerals (TSE:FM) After Recent Upgrade

First Quantum Minerals Ltd. is a Canada mining and metals company. The company has a market cap of $3.27 billion. The Firm is engaged in the production of copper, nickel, gold, zinc, platinum group elements and acid, and related activities, including exploration and development. It currently has negative earnings. The Company’s operating mines are located in Zambia, Australia, Finland, Turkey, Spain and Mauritania.