First Quantum Minerals (TSE:FM) Given a C$50.00 Price Target by National Bank Financial Analysts

Key Points

• National Bank Financial assigned First Quantum Minerals a C$50.00 price target and an “outperform” rating, implying 11.26% upside from the reported share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$46.34; recent actions included upgrades from TD Securities and Deutsche Bank.
• Shares traded at C$44.94, while the company reported a quarterly loss of C$0.19 per share on C$2.16 billion in revenue. First Quantum continues to operate mines in Zambia, Türkiye and Mauritania, while its Cobre Panamá and Ravensthorpe mines remain inactive.

First Quantum Minerals (TSE:FM - Get Free Report) has been assigned a C$50.00 price target by research analysts at National Bank Financial in a research report issued on Monday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price indicates a potential upside of 11.26% from the company's current price.

A number of other research analysts have also recently weighed in on FM. TD Securities upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Stifel Nicolaus lifted their price target on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reduced their price objective on First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. Morgan Stanley dropped their price target on First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a "hold" rating to a "buy" rating and increased their price target for the stock from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and a consensus price target of C$46.34.

First Quantum Minerals Stock Performance

Shares of FM traded up C$1.37 on Monday, reaching C$44.94. 1,061,388 shares of the company's stock traded hands, compared to its average volume of 2,913,293. The stock's 50 day simple moving average is C$42.59 and its two-hundred day simple moving average is C$39.01. The stock has a market cap of C$37.49 billion, a PE ratio of -499.33, a PEG ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a 52-week low of C$27.05 and a 52-week high of C$49.27. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 54.66.

First Quantum Minerals (TSE:FM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$2.16 billion during the quarter. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 0.73%. On average, analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathleen Applegate Hogenson bought 1,073 shares of the stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of C$37.53 per share, for a total transaction of C$40,269.69. Following the purchase, the director directly owned 62,240 shares of the company's stock, valued at C$2,335,867.20. This trade represents a 1.75% increase in their position. Company 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.

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