First Quantum Minerals (TSE:FM) Price Target Raised to C$46.00

First Quantum Minerals (TSE:FM) had its price target raised by Barclays from C$42.00 to C$46.00 in a research report released on Thursday,BayStreet.CA reports.

FM has been the subject of a number of other research reports. Stifel Nicolaus raised their target price on First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Morgan Stanley lowered their price target on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upgraded shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and increased their price target for the company from C$28.00 to C$37.00 in a report on Friday, April 24th. Canaccord Genuity Group reduced their price objective on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, BMO Capital Markets boosted their price objective on shares of First Quantum Minerals from C$40.00 to C$48.00 in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$44.79.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$36.79 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67. The stock has a 50 day simple moving average of C$39.46 and a 200-day simple moving average of C$37.70. The company has a market cap of C$30.47 billion, a price-to-earnings ratio of -153.29, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a 12-month low of C$22.16 and a 12-month high of C$46.36.

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

Insiders Place Their Bets

In related news, Director Kathleen Applegate Hogenson acquired 1,073 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director directly owned 62,240 shares in the company, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their ownership of the stock. Also, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals stock in a transaction dated 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 sale, the insider owned 75,905 shares of the company’s stock, valued at approximately C$3,491,630. This represents a 20.85% decrease in their position. Insiders own 19.35% of the company’s stock.

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.