Insider Buying: First Quantum Minerals (TSE:FM) Director Acquires 1,073 Shares

First Quantum Minerals Ltd. (TSE:FM) Director Kathleen Applegate Hogenson bought 1,073 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of C$37.53 per share, for a total transaction of C$40,269.69. Following the transaction, the director owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. The trade was a 1.75% increase in their position.

First Quantum Minerals Trading Up 0.1%

Shares of FM stock traded up C$0.03 during mid-day trading on Thursday, hitting C$38.77. 2,617,905 shares of the company’s stock were exchanged, compared to its average volume of 3,111,572. First Quantum Minerals Ltd. has a fifty-two week low of C$22.16 and a fifty-two week high of C$46.36. The stock has a 50-day simple moving average of C$38.65 and a two-hundred day simple moving average of C$37.46. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67. The stock has a market cap of C$32.11 billion, a price-to-earnings ratio of -161.54, a PEG ratio of -1.28 and a beta of 1.36.

First Quantum Minerals (TSE:FM) last released its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS 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. Equities analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FM shares. Barclays decreased their target price on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. Scotia cut their target price on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 30th. Scotiabank lifted their price objective on First Quantum Minerals from C$48.00 to C$55.00 and gave the company a “sector outperform” rating in a research note on Monday, June 15th. BMO Capital Markets upped their price target on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Finally, Morgan Stanley upgraded First Quantum Minerals from an “equal” rating to an “overweight” rating and increased their price target for the company from C$37.70 to C$42.20 in a report on Tuesday, May 19th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$44.24.

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.