First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised First Quantum Minerals’ price target to C$52 from C$45, implying 22.96% upside from the prior close. The stock carries a consensus “Moderate Buy” rating with an average target of C$46.34.
• First Quantum shares traded at C$42.29, while the company reported quarterly revenue of C$2.16 billion and a loss of C$0.19 per share. Analysts expect full-year earnings of approximately C$0.56 per share.
• A company director purchased 1,073 shares for about C$40,270, and insiders collectively own 19.35% of First Quantum’s stock.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective lifted by investment analysts at Royal Bank Of Canada from C$45.00 to C$52.00 in a note issued to investors on Wednesday, BayStreet reports. Royal Bank Of Canada's price target would suggest a potential upside of 22.96% from the stock's previous close.

FM has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce cut their price objective on shares of First Quantum Minerals from C$44.00 to C$41.00 in a research report on Thursday, July 30th. Raymond James Financial lifted their target price on First Quantum Minerals from C$45.00 to C$47.00 and gave the company a "market perform" rating in a research report on Friday, September 4th. National Bank Financial upped their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Stifel Nicolaus raised their price objective on First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a "hold" rating to a "buy" rating and lifted their price objective for the company from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. 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 stock. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of "Moderate Buy" and an average target price of C$46.34.

First Quantum Minerals Stock Performance

Shares of TSE FM traded up C$0.32 during midday trading on Wednesday, hitting C$42.29. 603,432 shares of the company's stock traded hands, compared to its average volume of 2,914,774. The firm has a fifty day moving average of C$42.31 and a 200 day moving average of C$38.96. First Quantum Minerals has a 1 year low of C$26.08 and a 1 year high of C$49.27. The company has a debt-to-equity ratio of 54.66, a quick ratio of 1.41 and a current ratio of 1.90. The stock has a market capitalization of C$35.28 billion, a price-to-earnings ratio of -469.89, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43.

First Quantum Minerals (TSE:FM - Get Free Report) last posted 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 return on equity of 0.73% and a negative net margin of 1.44%.The business had revenue of C$2.16 billion during the quarter. On average, analysts forecast 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 First Quantum Minerals stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the acquisition, the director 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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