First Quantum Minerals (TSE:FM) Lowered to “Underperform” Rating by JPMorgan Chase & Co.

First Quantum Minerals (TSE:FM) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to an “underperform” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. They presently have a C$28.00 price target on the stock, down from their prior price target of C$48.00. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 11.39% from the stock’s current price.

FM has been the topic of several other research reports. Royal Bank Of Canada increased their target price on shares of First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Jefferies Financial Group boosted their price target on shares of First Quantum Minerals from C$38.00 to C$47.00 in a research note on Monday, January 12th. Stifel Nicolaus raised their price objective on First Quantum Minerals from C$38.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Desjardins lifted their price objective on First Quantum Minerals from C$34.00 to C$40.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, Barclays lowered their target price on First Quantum Minerals from C$44.20 to C$42.90 in a research note on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$40.19.

First Quantum Minerals Price Performance

FM traded down C$1.31 during midday trading on Monday, hitting C$31.60. The stock had a trading volume of 1,453,259 shares, compared to its average volume of 2,806,583. First Quantum Minerals has a 1 year low of C$14.41 and a 1 year high of C$45.17. The company has a debt-to-equity ratio of 52.92, a quick ratio of 1.41 and a current ratio of 1.42. The business has a fifty day moving average of C$38.71 and a 200 day moving average of C$32.92. The company has a market cap of C$26.17 billion, a P/E ratio of -1,053.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.26.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, February 10th. The company reported C$0.01 EPS for the quarter. The firm had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative net margin of 0.52% and a negative return on equity of 0.24%. As a group, equities analysts forecast that First Quantum Minerals will post 0.55872 earnings per share 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.