First Quantum Minerals (FQVLF) Receives a Buy from Jefferies

Jefferies analyst Chris LaFemina maintained a Buy rating on First Quantum Minerals today and set a price target of C$38.00. The company’s shares closed last Friday at $23.16.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

According to TipRanks, LaFemina is a 5-star analyst with an average return of 10.1% and a 53.25% success rate. LaFemina covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Glencore, and Teck Resources.

Currently, the analyst consensus on First Quantum Minerals is a Moderate Buy with an average price target of $19.73, implying a -14.81% downside from current levels. In a report released on September 29, BMO Capital also maintained a Buy rating on the stock with a C$27.00 price target.

Based on First Quantum Minerals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.23 billion and a net profit of $18 million. In comparison, last year the company earned a revenue of $1.23 billion and had a GAAP net loss of $46 million

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FQVLF in relation to earlier this year.