First Quantum Minerals (TSE:FM) Price Target Raised to C$47.00 at Raymond James Financial

Key Points

• Raymond James raised First Quantum Minerals’ price target to C$47 from C$45 while maintaining a “market perform” rating, implying 5.33% upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with a C$45.68 target price.
• Shares fell 0.9% to C$44.62, but remain above their 50-day and 200-day moving averages. The company reported a quarterly loss of C$0.19 per share on C$2.16 billion in revenue.
• Insider activity was mixed: a director purchased 1,073 shares, while another insider sold 20,000 shares. Company insiders collectively own 19.35% of the stock.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective increased by analysts at Raymond James Financial from C$45.00 to C$47.00 in a research note issued on Friday, BayStreet reports. The brokerage currently has a "market perform" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 5.33% from the company's current price.

Several other brokerages have also issued reports on FM. Stifel Nicolaus lifted their price target on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a "hold" rating to a "buy" rating and raised their price objective for the company from C$40.00 to C$50.00 in a report on Wednesday, June 3rd. TD Securities raised First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce dropped their target price on First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. Finally, National Bank Financial increased their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the company an "outperform" rating in a research report on Tuesday, July 14th. One 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 company's stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and a consensus target price of C$45.68.

First Quantum Minerals Trading Down 0.9%

Shares of FM traded down C$0.42 on Friday, reaching C$44.62. 356,679 shares of the company's stock were exchanged, compared to its average volume of 2,950,458. The business has a 50 day moving average price of C$41.39 and a two-hundred day moving average price of C$38.60. First Quantum Minerals has a 12 month low of C$24.32 and a 12 month high of C$49.27. The stock has a market capitalization of C$37.22 billion, a P/E ratio of -495.78, a price-to-earnings-growth ratio of -1.28 and a beta of 1.38. 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. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 0.73%. The business had revenue of C$2.16 billion during the quarter. Research analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Activity

In other news, Director Kathleen Applegate Hogenson bought 1,073 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was 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 owned 62,240 shares of the company's stock, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their position. Also, insider Gavin Ashley sold 20,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of C$46.00, for a total transaction 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. 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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