First Quantum Mnrl Receives a Buy from GMP FirstEnergy

By Jason Carr

First Quantum Mnrl (TSX: FM), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Ian Parkinson from GMP FirstEnergy remains bullish on the stock and has a C$20 price target.

Parkinson has an average return of 58.7% when recommending First Quantum Mnrl.

According to TipRanks.com, Parkinson is ranked #41 out of 4629 analysts.

Currently, the analyst consensus on First Quantum Mnrl is Strong Buy and the average price target is C$18.58, representing a 23.5% upside.

In a report issued on August 16, BMO Capital also reiterated a Buy rating on the stock with a C$19 price target.

The company has a one year high of C$17.55 and a one year low of C$9.63. Currently, First Quantum Mnrl has an average volume of 2.71M.

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 on Thursday at C$15.05.