First Quantum Minerals Ltd. (TSE:FM) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• First Quantum Minerals has a consensus analyst rating of “Moderate Buy” from 14 firms, with an average 12-month price target of C$44.79.
• Recent brokerage updates were mostly positive, including target-price hikes from JPMorgan, National Bank Financial, BMO Capital Markets, and Stifel, though JPMorgan moved its rating to neutral.
• The stock was down 1.6% in trading, and the company most recently reported C($0.25) EPS on revenue of C$1.95 billion for the quarter.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$44.79.

Several brokerages have recently weighed in on FM. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an "underweight" rating to a "neutral" rating and increased their price objective for the company from C$28.00 to C$37.00 in a research report on Friday, April 24th. National Bank Financial upped their target price 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. BMO Capital Markets increased 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. Stifel Nicolaus lifted their target price on First Quantum Minerals from C$47.00 to C$52.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Finally, Scotia lowered their price target on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a "sector outperform" rating for the company in a report on Thursday, April 30th.

First Quantum Minerals Trading Down 1.6%

FM opened at C$36.79 on Friday. The stock has a market capitalization of C$30.47 billion, a P/E ratio of -153.29, a P/E/G ratio of -1.28 and a beta of 1.43. The firm's fifty day simple moving average is C$39.46 and its 200 day simple moving average is C$37.70. First Quantum Minerals has a 12 month low of C$22.16 and a 12 month high of C$46.36. 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 announced its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. The business had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%. As a group, research analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Buying and Selling

In other First Quantum Minerals news, Director Kathleen Applegate Hogenson bought 1,073 shares of First Quantum Minerals stock in a transaction on 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 acquisition, the director directly 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. Also, insider Gavin Ashley sold 20,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of C$46.00, for a total transaction of C$920,000.00. Following the completion of the transaction, the insider owned 75,905 shares of the company's stock, valued at approximately C$3,491,630. This trade represents a 20.85% decrease in their ownership of the stock. Insiders own 19.35% of the company's stock.

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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