Analyst Ratings Coverage
STA Research (Rank #24) on Thursday November 30th, issued a research report on First Quantum Mineral’s stock, downgrading the stock’s rating to a “Sell” from a “Hold” rating. STA Research also cut drastically the 12 month target to $8 from $29 per share.
The research compony is basing their downgrade on the concern around the closure of the company’s main copper mine, Cobre in Panama. The mine was closed this week by a local court on the grounds that their contract for operation was not valid. STA Research believes that the stock is faced with a lot of risk, and it’s valuation could deteriorate further. The research company notes that their is a possibility that the stock could test 2016 low’s of $2 per share, if the murkiness remains around the mines foreseeable future.
First Quantum Stock Analysis
The First Quantum Minerals Ltd stock forecast, derived from assessments by 17 analysts, suggests an average target price of CAD 29.98 over the next 12 months. Despite this, the overall sentiment among analysts is categorized as “Hold,” reflecting a somewhat neutral stance regarding the company’s future performance.
Stock Target Advisor, conducting an independent analysis, characterizes First Quantum Minerals Ltd’s stock as “Slightly Bullish.” This assessment is based on 10 positive signals and 7 negative signals identified through their analysis. The slightly bullish outlook indicates a mix of positive and negative factors, suggesting a cautious optimism with certain elements warranting consideration.
As of the last closing, First Quantum Minerals Ltd’s stock price was CAD 11.36. However, the stock has encountered challenges in recent periods, evidenced by a notable change of -17.44% over the past week, a substantial -59.37% decline over the past month, and a significant -64.48% drop over the last year. These figures underscore a period of notable volatility and downward pressure on the company’s stock value.
Final Stock Analysis
while the average analyst target price indicates potential for growth, the “Hold” rating suggests a degree of caution. Stock Target Advisor’s slightly bullish outlook acknowledges both positive and negative signals, indicating a nuanced perspective. The recent decline in stock price over various timeframes highlights the challenges and volatility that First Quantum Minerals Ltd has faced in the market.