First Quantum Minerals (TSE:FM) Upgraded by Scotiabank to “Outperform” Rating

Scotiabank upgraded shares of First Quantum Minerals (TSE:FM) from a sector perform rating to an outperform rating in a report released on Thursday morning,BayStreet.CA reports. Scotiabank currently has C$45.00 target price on the stock, up from their previous target price of C$44.00.

A number of other research firms also recently weighed in on FM. Desjardins boosted their target price on First Quantum Minerals from C$34.00 to C$40.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Jefferies Financial Group increased their price target on shares of First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. TD Securities boosted their price objective on shares of First Quantum Minerals from C$34.00 to C$41.00 in a report on Thursday, January 22nd. Stifel Nicolaus upped their price objective on shares of First Quantum Minerals from C$38.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley increased their target price on shares of First Quantum Minerals from C$33.50 to C$36.70 in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$41.28.

First Quantum Minerals Stock Down 2.7%

Shares of TSE:FM opened at C$36.59 on Thursday. The firm has a market capitalization of C$30.30 billion, a PE ratio of -1,219.67, a price-to-earnings-growth ratio of -1.28 and a beta of 1.35. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. First Quantum Minerals has a 52-week low of C$14.41 and a 52-week high of C$45.17. The firm has a fifty day moving average of C$37.70 and a 200 day moving average of C$31.18.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C$0.01 earnings per share (EPS) for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.The firm had revenue of C$1.95 billion during the quarter. As a group, research analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Trending Headlines about First Quantum Minerals

Here are the key news stories impacting First Quantum Minerals this week:

• Positive Sentiment: Scotiabank upgraded FM from “sector perform” to “outperform” and raised its price target to C$45, signaling stronger analyst conviction and suggesting meaningful upside potential. Read More.
• Positive Sentiment: Stifel Nicolaus raised its price target to C$47 and reiterated a “buy” view, representing another bullish analyst repositioning that could support demand in the stock. Read More.
• Positive Sentiment: Company progress on Cobre Panamá — including steps to balance stockpiles and new funding/liquidity measures — has improved the credit outlook and reduces a major operational/financing overhang. This is being cited as a reason investors and credit markets may reassess risk. Read More.
• Neutral Sentiment: TD Securities bumped its target to C$42 but kept a “hold” rating, indicating some upside in the target but less conviction than buy-side upgrades — a mixed signal for trading flows. Read More.
• Negative Sentiment: First Quantum reported weaker quarterly results (reported US$25M in earnings, down year-over-year) and commentary highlighted mixed Q4 results and margins; these near-term fundamentals help explain the downward price pressure. Read More. — and see analysis of valuation after the mixed quarter. Read More.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.