First Quantum Minerals (TSE:FM) Given New C$45.20 Price Target at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price target cut by investment analysts at Morgan Stanley from C$46.30 to C$45.20 in a research note issued on Wednesday,BayStreet.CA reports. Morgan Stanley’s price target would indicate a potential upside of 24.21% from the company’s current price.

A number of other brokerages have also weighed in on FM. Scotia decreased their target price 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 research note on Thursday, April 30th. Barclays reduced their price target on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. Stifel Nicolaus raised 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. BMO Capital Markets upped their target price on shares of First Quantum Minerals from C$40.00 to C$48.00 in a report on Wednesday, April 22nd. Finally, Canaccord Genuity Group cut their price objective on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$44.41.

First Quantum Minerals Stock Down 0.7%

Shares of FM stock traded down C$0.25 during mid-day trading on Wednesday, hitting C$36.39. The company’s stock had a trading volume of 1,503,454 shares, compared to its average volume of 3,084,809. The stock has a market cap of C$30.14 billion, a price-to-earnings ratio of -151.62, a PEG ratio of -1.28 and a beta of 1.43. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76. First Quantum Minerals has a 52-week low of C$22.16 and a 52-week high of C$46.36. The business has a 50-day moving average price of C$38.78 and a 200 day moving average price of C$37.60.

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

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Kathleen Applegate Hogenson bought 1,073 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the purchase, the director owned 62,240 shares of the company’s stock, valued at 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 business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 75,905 shares in the company, valued at approximately C$3,491,630. This represents a 20.85% decrease in their ownership of the stock. 19.35% of the stock is owned by company insiders.

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.