First Quantum Minerals (TSE:FM) Price Target Raised to C$47.00

First Quantum Minerals (TSE:FM) had its price objective lifted by Raymond James Financial from C$45.00 to C$47.00 in a report issued on Friday morning,BayStreet reports. The firm currently has a market perform rating on the stock.

Other analysts have also recently issued research reports about the company. Barclays increased their target price on First Quantum Minerals from C$42.00 to C$46.00 in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce lowered their price target on First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price target for the stock from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. National Bank Financial lifted their price objective on shares of First Quantum Minerals from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Finally, TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.68.

First Quantum Minerals Stock Performance

FM opened at C$44.58 on Friday. The firm has a market cap of C$37.19 billion, a P/E ratio of -495.33, a PEG ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a 1-year low of C$24.32 and a 1-year high of C$49.27. The company has a 50 day simple moving average of C$41.53 and a two-hundred day simple moving average of C$38.66. The company has a debt-to-equity ratio of 54.66, a current ratio of 1.90 and a quick ratio of 1.41.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$2.16 billion during the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%. Equities analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Activity

In other 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 cost of C$37.53 per share, for a total transaction of C$40,269.69. Following the completion of the transaction, 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 ownership of the stock. Also, insider Gavin Ashley sold 20,000 shares of the firm’s 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 value of C$920,000.00. Following the transaction, the insider owned 75,905 shares of the company’s stock, valued at C$3,491,630. This represents a 20.85% decrease in their position. Insiders own 19.35% of the company’s stock.

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.