Analysts Set First Quantum Minerals Ltd. (TSE:FM) PT at C$44.79

Shares of First Quantum Minerals Ltd. (TSE:FM) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$44.96.

Several analysts have commented on FM shares. Scotia dropped their target price on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 30th. National Bank Financial boosted their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and upped their target price for the company from C$28.00 to C$37.00 in a report on Friday, April 24th. Canaccord Genuity Group cut their price target on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, TD Securities raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th.

Insiders Place Their Bets

In other news, Director Kathleen Applegate Hogenson purchased 1,073 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the acquisition, the director owned 62,240 shares in the company, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their position. Also, 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 value of C$920,000.00. Following the sale, the insider owned 75,905 shares of the company’s stock, valued at C$3,491,630. The trade was a 20.85% decrease in their ownership of the stock. 19.35% of the stock is owned by company insiders.

First Quantum Minerals Price Performance

Shares of FM opened at C$39.20 on Friday. The stock’s 50-day moving average price is C$39.63 and its two-hundred day moving average price is C$37.75. First Quantum Minerals has a 1 year low of C$22.16 and a 1 year high of C$46.36. The stock has a market cap of C$32.46 billion, a P/E ratio of -163.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM) last issued its earnings results on Wednesday, April 29th. The company reported C($0.25) 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 firm had revenue of C$1.95 billion during the quarter. On average, equities analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current 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.