Canaccord Genuity Group Has Lowered Expectations for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its target price reduced by equities research analysts at Canaccord Genuity Group from C$48.00 to C$46.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 37.93% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus increased their price target on First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. UBS Group raised First Quantum Minerals from a “hold” rating to a “buy” rating and increased their target price for the company from C$38.00 to C$50.00 in a research report on Thursday, March 12th. Jefferies Financial Group raised their price objective on First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. Scotiabank raised First Quantum Minerals from a “hold” rating to an “outperform” rating and raised their price objective for the stock from C$44.00 to C$45.00 in a research report on Thursday, February 12th. Finally, Desjardins lifted their price objective on First Quantum Minerals from C$34.00 to C$40.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$42.63.

First Quantum Minerals Trading Up 2.7%

FM stock traded up C$0.89 during midday trading on Thursday, reaching C$33.35. 2,849,095 shares of the company traded hands, compared to its average volume of 2,860,985. First Quantum Minerals has a 52-week low of C$18.42 and a 52-week 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 50 day moving average of C$35.48 and a 200-day moving average of C$34.84. The firm has a market capitalization of C$27.62 billion, a price-to-earnings ratio of -1,111.67, a P/E/G ratio of -1.28 and a beta of 1.50.

First Quantum Minerals (TSE:FM) last issued 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 net margin of 0.52% and a negative return on equity of 0.24%. The company had revenue of C$1.95 billion for the quarter. As a group, sell-side analysts expect 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.