First Quantum Minerals (TSE:FM) Price Target Raised to C$50.00

First Quantum Minerals (TSE:FM) had its target price lifted by National Bank Financial from C$47.00 to C$50.00 in a report issued on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also issued reports on the stock. Barclays dropped their price target on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. Morgan Stanley decreased their price objective on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. BMO Capital Markets boosted 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. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. Finally, Scotia dropped their target price on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price of C$44.79.

First Quantum Minerals Stock Down 2.7%

TSE:FM opened at C$37.39 on Tuesday. The firm has a market capitalization of C$30.97 billion, a price-to-earnings ratio of -155.79, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a twelve month low of C$22.16 and a twelve month high of C$46.36. The stock’s 50 day moving average price is C$39.43 and its two-hundred day moving average price is 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 announced its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The company had revenue of C$1.95 billion for the quarter. Equities research analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Quantum Minerals news, insider Gavin Ashley sold 20,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of C$46.00, for a total transaction 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. This trade represents a 20.85% decrease in their position. Also, Director Kathleen Applegate Hogenson acquired 1,073 shares of First Quantum Minerals stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the transaction, the director owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their ownership of the stock. 19.35% of the stock is currently owned by corporate insiders.

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.