Brokerages Set First Quantum Minerals Ltd. (TSE:FM) Price Target at C$44.79

First Quantum Minerals Ltd. (TSE:FM) has received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$44.79.

A number of research firms have weighed in on FM. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from C$28.00 to C$37.00 in a report on Friday, April 24th. Scotiabank increased their target price on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the company a “sector outperform” rating in a research report on Monday, June 15th. TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price target for the company from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus upped their price objective on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th.

Insider Activity

In other news, Director Kathleen Applegate Hogenson bought 1,073 shares of First Quantum Minerals stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the acquisition, the director owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their ownership of the stock. Also, insider Gavin Ashley sold 20,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the sale, the insider directly owned 75,905 shares of the company’s stock, valued at approximately C$3,491,630. This trade represents a 20.85% decrease in their ownership of the stock. 19.35% of the stock is currently owned by insiders.

First Quantum Minerals Stock Up 2.2%

Shares of TSE FM opened at C$37.59 on Friday. The company has a market capitalization of C$31.13 billion, a price-to-earnings ratio of -156.63, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. The business has a 50-day moving average of C$39.52 and a two-hundred day moving average of C$37.71. First Quantum Minerals has a 1 year low of C$22.16 and a 1 year high of C$46.36.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The business had revenue of C$1.95 billion for the quarter. On average, analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

About First Quantum Minerals

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.