First Quantum Minerals (TSE:FM) Downgraded to Underperform Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of First Quantum Minerals (TSE:FM) from an overweight rating to an underperform rating in a research report released on Monday morning,BayStreet.CA reports. They currently have C$28.00 price target on the stock, down from their prior price target of C$48.00.

Several other brokerages also recently commented on FM. Morgan Stanley boosted their target price on shares of First Quantum Minerals from C$33.50 to C$36.70 in a research note on Tuesday, February 3rd. Canadian Imperial Bank of Commerce increased their target price on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research report on Wednesday, February 4th. Barclays cut their price target on shares of First Quantum Minerals from C$44.20 to C$42.90 in a report on Tuesday, February 17th. Desjardins boosted their price target on shares of First Quantum Minerals from C$34.00 to C$40.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Finally, Scotiabank raised shares of First Quantum Minerals from a “hold” rating to an “outperform” rating and upped their price objective for the stock from C$44.00 to C$45.00 in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy” and an average price target of C$40.19.

First Quantum Minerals Trading Down 1.2%

Shares of FM opened at C$32.52 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.41 and a debt-to-equity ratio of 52.92. The stock has a market cap of C$26.93 billion, a PE ratio of -1,084.00, a PEG ratio of -1.28 and a beta of 1.26. First Quantum Minerals has a 1 year low of C$14.41 and a 1 year high of C$45.17. The stock has a 50 day simple moving average of C$38.63 and a 200-day simple moving average of C$32.99.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$0.01 EPS for the quarter. First Quantum Minerals had a negative return on equity of 0.24% and a negative net margin of 0.52%.The business had revenue of C$1.95 billion for the quarter. On average, sell-side analysts predict that First Quantum Minerals will post 0.55872 EPS 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.