First Quantum Minerals (TSE:FM) Hits New 12-Month High Following Analyst Upgrade

Shares of First Quantum Minerals Ltd. (TSE:FM) reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$48.00 to C$55.00. Scotiabank currently has a sector outperform rating on the stock. First Quantum Minerals traded as high as C$46.36 and last traded at C$45.53, with a volume of 300390 shares. The stock had previously closed at C$43.39.

Several other analysts also recently issued reports on FM. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$40.00 to C$50.00 in a report on Wednesday, June 3rd. Stifel Nicolaus upped their price objective on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Scotia decreased their price objective on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from C$28.00 to C$37.00 in a report on Friday, April 24th. Finally, Morgan Stanley raised shares of First Quantum Minerals from an “equal” rating to an “overweight” rating and upped their price objective for the stock from C$37.70 to C$42.20 in a report on Tuesday, May 19th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$44.24.

First Quantum Minerals Stock Performance

The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76. The firm has a 50 day moving average of C$38.28 and a two-hundred day moving average of C$36.89. The stock has a market cap of C$37.37 billion, a P/E ratio of -188.00, a P/E/G ratio of -1.28 and a beta of 1.36.

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

First Quantum Minerals Company Profile

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.