Analysts Set First Quantum Minerals Ltd. (TSE:FM) Target Price at C$44.68

Shares of First Quantum Minerals Ltd. (TSE:FM) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$44.68.

Several equities research analysts have recently weighed in on FM shares. Morgan Stanley lowered their price target on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$40.00 to C$50.00 in a report on Wednesday, June 3rd. Scotiabank boosted their price objective on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and upped their target price for the stock from C$28.00 to C$37.00 in a report on Friday, April 24th. Finally, Canaccord Genuity Group dropped 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.

Insiders Place Their Bets

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

First Quantum Minerals Stock Performance

FM stock opened at C$43.46 on Wednesday. First Quantum Minerals has a 1-year low of C$22.21 and a 1-year high of C$46.36. The business has a 50-day moving average price of C$40.28 and a 200 day moving average price of C$37.90. The company has a market capitalization of C$36.25 billion, a P/E ratio of -482.89, a PEG ratio of -1.28 and a beta of 1.38. The company has a debt-to-equity ratio of 54.66, a current ratio of 1.90 and a quick ratio of 1.41.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$2.16 billion for the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%. As a group, equities research analysts forecast that First Quantum Minerals 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.