Barclays Issues Pessimistic Forecast for First Quantum Minerals (TSE:FM) Stock Price

Key Points

• Barclays cut its price target on First Quantum to C$42.20 (from C$44.60), which still implies roughly a 35% upside from the stock's recent level around C$31.24.
• Analyst coverage is mixed but tilted positive: ten analysts rate the stock a Buy and five a Hold, giving a consensus rating of "Moderate Buy" and a consensus price target of C$42.49.
• First Quantum reported a quarterly loss of C($0.25) EPS, has negative margins and ROE, and faces operational headwinds (Cobre Panamá in preservation and Ravensthorpe on care-and-maintenance) while the stock trades near C$31.24.

First Quantum Minerals (TSE:FM - Get Free Report) had its price target dropped by equities researchers at Barclays from C$44.60 to C$42.20 in a research note issued on Monday,BayStreet.CA reports. Barclays's target price suggests a potential upside of 35.08% from the company's current price.

Other analysts also recently issued reports about the stock. National Bank Financial lifted their price objective on shares of First Quantum Minerals from C$42.50 to C$47.00 in a research report on Thursday, January 29th. Stifel Nicolaus boosted their price target on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. upgraded shares of First Quantum Minerals from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. Canaccord Genuity Group dropped their price target on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, TD Securities boosted their price target on shares of First Quantum Minerals from C$41.00 to C$42.00 and gave the stock a "hold" rating in a research report on Thursday, February 12th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of "Moderate Buy" and a consensus price target of C$42.49.

First Quantum Minerals Stock Performance

TSE:FM traded down C$1.10 during mid-day trading on Monday, hitting C$31.24. The stock had a trading volume of 1,739,599 shares, compared to its average volume of 2,878,542. The stock has a market capitalization of C$25.87 billion, a price-to-earnings ratio of -130.17, a P/E/G ratio of -1.28 and a beta of 1.50. The company has a 50 day simple moving average of C$35.42 and a 200-day simple moving average of C$34.87. First Quantum Minerals has a 52 week low of C$18.43 and a 52 week high of C$45.17. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) earnings per share for the quarter. The firm had revenue of C$1.95 billion during the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. On average, research analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

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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