Brokerages Set First Quantum Minerals Ltd. (TSE:FM) Target Price at C$44.24

First Quantum Minerals Ltd. (TSE:FM) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$44.24.

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and increased their target price for the stock from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. Scotia reduced their target price on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 30th. Canaccord Genuity Group reduced their target price on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley upgraded First Quantum Minerals from an “equal” rating to an “overweight” rating and increased their target price for the stock from C$37.70 to C$42.20 in a research report on Tuesday, May 19th. Finally, Scotiabank increased their target price on First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 15th.

Insider Activity at First Quantum Minerals

In other news, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals stock in a transaction dated Monday, June 15th. The stock was sold at an average price of C$46.00, for a total value of C$920,000.00. Following the transaction, the insider directly owned 75,905 shares of the company’s stock, valued at C$3,491,630. The trade was a 20.85% decrease in their position. 19.35% of the stock is currently owned by company insiders.

First Quantum Minerals Stock Up 1.9%

Shares of TSE:FM opened at C$37.44 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67. First Quantum Minerals has a 52-week low of C$22.16 and a 52-week high of C$46.36. The stock’s fifty day simple moving average is C$38.76 and its 200-day simple moving average is C$37.32. The company has a market capitalization of C$31.01 billion, a P/E ratio of -156.00, a P/E/G ratio of -1.28 and a beta of 1.36.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) earnings per share (EPS) 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. As a group, equities research 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.