First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, National Bank Financial Analyst Says

First Quantum Minerals (TSE:FM) had its price objective hoisted by equities researchers at National Bank Financial from C$47.00 to C$50.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 28.87% from the company’s current price.

FM has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and upped their target price for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. BMO Capital Markets boosted their price target on shares of First Quantum Minerals from C$40.00 to C$48.00 in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upgraded shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and upped their price objective for the company from C$28.00 to C$37.00 in a research report on Friday, April 24th. Scotia lowered 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 research report on Thursday, April 30th. Finally, Stifel Nicolaus raised their price objective on First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.58.

First Quantum Minerals Trading Up 7.9%

Shares of FM stock traded up C$2.83 on Tuesday, reaching C$38.80. The company had a trading volume of 1,557,905 shares, compared to its average volume of 3,084,371. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67. The stock has a market cap of C$32.13 billion, a PE ratio of -161.67, a PEG ratio of -1.28 and a beta of 1.43. The company has a 50-day moving average of C$39.09 and a 200-day moving average of C$37.66. First Quantum Minerals has a 12 month low of C$22.16 and a 12 month high of C$46.36.

First Quantum Minerals (TSE:FM) last announced 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 firm had revenue of C$1.95 billion during the quarter. On average, equities analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kathleen Applegate Hogenson bought 1,073 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of C$37.53 per share, for a total transaction 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 represents a 1.75% increase in their position. Also, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of C$46.00, for a total transaction 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. The trade was a 20.85% decrease in their position. 19.35% of the stock is currently owned by corporate 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.