First Quantum Minerals (TSE:FM) Price Target Cut to C$44.00 by Analysts at Scotia

First Quantum Minerals (TSE:FM) had its price objective lowered by Scotia from C$47.00 to C$44.00 in a report published on Thursday morning,BayStreet.CA reports. Scotia currently has a sector outperform rating on the stock.

Several other research firms have also weighed in on FM. Stifel Nicolaus increased 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 research note on Wednesday, April 15th. Jefferies Financial Group increased their price objective on shares of First Quantum Minerals from C$38.00 to C$47.00 in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce increased their price objective on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research note on Wednesday, February 4th. TD Securities increased their price objective 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. Finally, UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$38.00 to C$50.00 in a research note on Thursday, March 12th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price of C$42.63.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$33.26 on Thursday. 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 one year low of C$18.42 and a one year high of C$45.17. The company’s 50-day simple moving average is C$35.42 and its 200-day simple moving average is C$34.83. The stock has a market capitalization of C$27.55 billion, a price-to-earnings ratio of -1,108.67, a PEG ratio of -1.28 and a beta of 1.50.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The company had revenue of C$1.95 billion for the quarter. Equities analysts anticipate 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.