First Quantum Minerals (TSE:FM) Upgraded at TD Securities

TD Securities upgraded shares of First Quantum Minerals (TSE:FM) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Several other research firms have also weighed in on FM. BMO Capital Markets lifted their price objective on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research note on Wednesday, April 22nd. Morgan Stanley dropped their target price on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and increased their target price for the stock from C$28.00 to C$37.00 in a research note on Friday, April 24th. Scotiabank raised 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 report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$44.79.

First Quantum Minerals Stock Down 2.7%

Shares of TSE:FM opened at C$37.39 on Tuesday. First Quantum Minerals has a 1 year low of C$22.16 and a 1 year high of C$46.36. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. The business’s 50-day moving average is C$39.43 and its 200-day moving average is C$37.70. The company has a market capitalization of C$30.97 billion, a price-to-earnings ratio of -155.79, a P/E/G ratio of -1.28 and a beta of 1.43.

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 business had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%. Equities research analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, insider Gavin Ashley sold 20,000 shares of the company’s stock in a transaction on 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 transaction, the insider owned 75,905 shares in the company, valued at approximately C$3,491,630. This represents 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 dated Tuesday, June 30th. The shares were acquired at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the acquisition, the director directly owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their ownership of the stock. 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.