First Quantum Minerals (TSE:FM) Given New C$55.00 Price Target at Stifel Nicolaus

First Quantum Minerals (TSE:FM) had its target price raised by Stifel Nicolaus from C$52.00 to C$55.00 in a report published on Tuesday morning,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research firms have also recently issued reports on FM. Canaccord Genuity Group cut their price target on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$40.00 to C$50.00 in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. Barclays increased their target price on First Quantum Minerals from C$42.00 to C$46.00 in a research note on Thursday, July 16th. Finally, Morgan Stanley reduced their price target on First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$44.96.

First Quantum Minerals Stock Performance

Shares of FM opened at C$39.58 on Tuesday. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76. The stock has a market capitalization of C$32.78 billion, a P/E ratio of -164.92, a P/E/G ratio of -1.28 and a beta of 1.43. The company’s fifty day moving average is C$39.59 and its two-hundred day moving average is C$37.73. First Quantum Minerals has a 1 year low of C$22.16 and a 1 year high of C$46.36.

First Quantum Minerals (TSE:FM) last released its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. The firm had revenue of C$1.95 billion during the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%. On average, sell-side analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Transactions at First Quantum Minerals

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