First Quantum Minerals Ltd (FM) Receives a Buy from RBC Capital

By Jason Carr

A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Stephen Walker from RBC Capital rated First Quantum Minerals Ltd (FMResearch Report) a Buy, setting a C$18 price target.

According to TipRanks.com, Walker is a 2-star analyst with an average return of 0.4% and a 45.7% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, First Quantum Minerals Ltd, and Teck Resources Limited.

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Currently, the analyst consensus on First Quantum Minerals Ltd is a Moderate Buy with an average price target of C$16.88, representing a 36.2% upside. In a report issued on June 25, BMO Capital also reiterated a Buy rating on the stock with a C$15 price target.

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First Quantum Minerals Ltd’s market cap is currently C$8.51B and has a P/E ratio of 13.7. The company has a Price to Book ratio of 0.67.

First Quantum Minerals Ltd. engages in the production, exploration and development of copper, nickel, gold, zinc and acid, and related activities. It operates through the following segments: Kansanshi, Sentinel, Las Cruces, Guelb Moghrein, Çayeli, Pyhäsalmi, Ravensthorpe, and Corporate and Other.

The company’s shares closed on Thursday at C$12.39.