Jefferies Keeps a Buy Rating on First Quantum Mnrl

By Jason Carr

Today, an analyst has provided a rating update for the Materials sector company, First Quantum Mnrl (TSX: FM). The company received a Buy rating from Jefferies’ analyst Chris LaFemina, with a C$18 price target.

According to TipRanks.com, LaFemina is ranked 0 out of 5 stars with an average return of -7.5% and a 38.3% success rate. LaFemina covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Randgold Resources Limited, and Anglogold Ashanti Ltd.

Currently, the analyst consensus on First Quantum Mnrl is Strong Buy and the average price target is C$18.79, representing a 65.0% upside.

In a report issued on May 29, Scotiabank also maintained a Buy rating on the stock with a C$17 price target.

The company has a one year high of C$17.55 and a one year low of C$7.77. Currently, First Quantum Mnrl has an average volume of 2.57M.

First Quantum Minerals Ltd. is a mining and metal company, which engages in the production of gold, copper, and nickel. It includes mineral exploration, development, and processing. The company was founded by Philip K.R. Pascall, Geoffrey Clive Newall, and Martin R. Rowley on December 21, 1983 and is headquartered in Vancouver, Canada.

The company’s shares closed last Wednesday at $11.39.