Morgan Stanley Cuts First Quantum Minerals (TSE:FM) Price Target to C$37.70

First Quantum Minerals (TSE:FM) had its target price decreased by Morgan Stanley from C$40.00 to C$37.70 in a research report released on Thursday,BayStreet.CA reports.

Several other equities analysts also recently weighed in on FM. UBS Group raised First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$38.00 to C$50.00 in a research report on Thursday, March 12th. JPMorgan Chase & Co. downgraded First Quantum Minerals from an “overweight” rating to an “underperform” rating and dropped their price target for the stock from C$48.00 to C$28.00 in a research report on Monday, March 9th. Desjardins raised their price target 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. Scotiabank raised First Quantum Minerals from a “hold” rating to an “outperform” rating and raised their price target for the stock from C$44.00 to C$45.00 in a research report on Thursday, February 12th. Finally, Barclays dropped their price target on First Quantum Minerals from C$44.20 to C$42.90 in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$40.91.

First Quantum Minerals Stock Performance

TSE FM opened at C$38.04 on Thursday. First Quantum Minerals has a 1-year low of C$15.59 and a 1-year high of C$45.17. The company has a market capitalization of C$31.50 billion, a P/E ratio of -1,268.00, a PEG ratio of -1.28 and a beta of 1.50. The business has a 50 day moving average price of C$35.51 and a 200 day moving average price of C$34.28. The company has a debt-to-equity ratio of 52.92, a current ratio of 1.42 and a quick ratio of 1.41.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$0.01 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 0.24% and a negative net margin of 0.52%. Sell-side analysts expect that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

About First Quantum Minerals

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.