Barclays Forecasts Strong Price Appreciation for First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals (TSE:FM) had its target price lifted by equities researchers at Barclays from C$42.00 to C$46.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Barclays‘s target price points to a potential upside of 25.03% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets increased their price objective on First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. TD Securities raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley lowered their target price on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research note on Wednesday, July 8th. Canaccord Genuity Group dropped their price target on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Scotiabank lifted their price target on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$44.79.

First Quantum Minerals Price Performance

Shares of FM opened at C$36.79 on Thursday. First Quantum Minerals has a twelve month low of C$22.16 and a twelve month high of C$46.36. The company has a market capitalization of C$30.47 billion, a P/E ratio of -153.29, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The firm has a 50 day moving average of C$39.46 and a 200 day moving average of C$37.70. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM) last issued its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. The business had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. As a group, equities research analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In related news, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals stock in a transaction on Monday, June 15th. The stock was sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the sale, the insider owned 75,905 shares of the company’s stock, valued at C$3,491,630. The trade was a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson acquired 1,073 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the transaction, the director owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. The trade was a 1.75% increase 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.