Could First Quantum Minerals Limited Change Direction After Today’s Huge Decline?

 Could First Quantum Minerals Limited Change Direction After Today's Huge Decline?

The stock of First Quantum Minerals Limited (TSE:FM) is a huge mover today! About 1.39M shares traded hands. First Quantum Minerals Limited (TSE:FM) has risen 78.14% since April 19, 2016 and is uptrending. It has outperformed by 72.81% the S&P500.
The move comes after 7 months negative chart setup for the $11.55 billion company. It was reported on Nov, 23 by Barchart.com. We have $14.65 PT which if reached, will make TSE:FM worth $808.50 million less.

First Quantum Minerals Limited (TSE:FM) Ratings Coverage

Out of 15 analysts covering First Quantum Minerals (TSE:FM), 6 rate it a “Buy”, 5 “Sell”, while 4 “Hold”. This means 40% are positive. $20 is the highest target while $3.50 is the lowest. The $11.92 average target is -24.32% below today’s ($15.75) stock price. First Quantum Minerals has been the topic of 65 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained First Quantum Minerals Limited (TSE:FM) on Tuesday, October 6 with “Sector Perform” rating. Goldman Sachs downgraded First Quantum Minerals Limited (TSE:FM) on Friday, July 24 to “Neutral” rating. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, July 21. RBC Capital Markets maintained the shares of FM in a report on Monday, October 31 with “Sector Perform” rating. Scotia Capital maintained First Quantum Minerals Limited (TSE:FM) on Friday, October 28 with “Focus Stock” rating. The firm has “Neutral” rating given on Friday, October 14 by Dundee Securities. JP Morgan maintained First Quantum Minerals Limited (TSE:FM) on Wednesday, October 7 with “Neutral” rating. As per Friday, December 4, the company rating was upgraded by Raymond James. The rating was upgraded by National Bank Canada on Wednesday, July 22 to “Outperform”. The rating was downgraded by Berenberg to “Sell” on Friday, July 8.

More notable recent First Quantum Minerals Limited (TSE:FM) news were published by: Business.Financialpost.com which released: “First Quantum Minerals Ltd issues ‘going concern’ warning amid high debt, weak …” on February 19, 2016, also Business.Financialpost.com with their article: “First Quantum Minerals Ltd upgraded to buy as liquidity improves” published on July 20, 2016, Business.Financialpost.com published: “Teck Resources Ltd and First Quantum Minerals Ltd upgraded at Canaccord” on July 25, 2016. More interesting news about First Quantum Minerals Limited (TSE:FM) were released by: Moodys.com and their article: “Moody’s downgrades FQM’s CFR to Caa1, senior unsecured notes to Caa2; negative …” published on January 08, 2016 as well as Business.Financialpost.com‘s news article titled: “First Quantum Minerals Ltd sells Kevitsa mine in Finland for US$712 million to …” with publication date: March 10, 2016.

First Quantum Minerals Ltd. is an international mining company. The company has a market cap of $11.55 billion. The Firm is engaged in mineral exploration, mine engineering and construction, development and mining. It has a 24.85 P/E ratio. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements and pyrite.

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