Canaccord Genuity Group Issues Pessimistic Forecast for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price target lowered by investment analysts at Canaccord Genuity Group from C$48.00 to C$46.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 42.24% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Desjardins boosted their price target on shares of First Quantum Minerals from C$34.00 to C$40.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. TD Securities boosted their price target on shares of First Quantum Minerals from C$41.00 to C$42.00 and gave the stock a “hold” rating in a research note on Thursday, February 12th. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$38.00 to C$50.00 in a research note on Thursday, March 12th. Scotia dropped their price target 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. Finally, JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from C$28.00 to C$37.00 in a research note on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$42.63.

First Quantum Minerals Trading Down 2.8%

Shares of TSE FM opened at C$32.34 on Thursday. First Quantum Minerals has a 1-year low of C$18.43 and a 1-year high of C$45.17. The company has a market cap of C$26.78 billion, a PE ratio of -1,078.00, a P/E/G ratio of -1.28 and a beta of 1.50. 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 company has a 50-day moving average of C$35.42 and a two-hundred day moving average of C$34.83.

First Quantum Minerals (TSE:FM) last announced its earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share for the quarter. The company 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%. As a group, equities analysts expect that First Quantum Minerals will post 0.55872 earnings per share 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.