First Quantum Minerals (TSE:FM) Given New C$48.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on First Quantum to C$48.00, implying about a 26.22% upside from the prior close.
• Analyst views are mixed: JPMorgan downgraded the stock to "underperform" with a C$28 target while several other firms raised targets, leaving a MarketBeat consensus of "Moderate Buy" and a consensus price target of C$41.77.
• The stock traded at C$38.03 (up 3.3%) with a C$31.5B market cap; recent results showed C$0.01 EPS and a slightly negative net margin, and the company has placed Cobre Panamá and Ravensthorpe into preservation/care and maintenance.

First Quantum Minerals (TSE:FM - Get Free Report) had its price target lifted by investment analysts at BMO Capital Markets from C$40.00 to C$48.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets' price target indicates a potential upside of 26.22% from the stock's previous close.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of First Quantum Minerals from an "overweight" rating to an "underperform" rating and decreased their price objective for the company from C$48.00 to C$28.00 in a research note on Monday, March 9th. Canadian Imperial Bank of Commerce raised their price target on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research note on Wednesday, February 4th. National Bank Financial raised their price target on shares of First Quantum Minerals from C$42.50 to C$47.00 in a research note on Thursday, January 29th. Barclays raised their price target on shares of First Quantum Minerals from C$42.90 to C$44.60 in a research note on Monday. Finally, Morgan Stanley decreased their price target on shares of First Quantum Minerals from C$40.00 to C$37.70 in a research note on Thursday, April 9th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$41.77.

First Quantum Minerals Stock Up 3.3%

TSE:FM traded up C$1.20 on Wednesday, hitting C$38.03. The stock had a trading volume of 1,200,689 shares, compared to its average volume of 2,827,037. The company has a debt-to-equity ratio of 52.92, a quick ratio of 1.41 and a current ratio of 1.42. The stock has a market cap of C$31.50 billion, a P/E ratio of -1,267.67, a price-to-earnings-growth ratio of -1.28 and a beta of 1.50. First Quantum Minerals has a 1 year low of C$17.18 and a 1 year high of C$45.17. The firm's fifty day simple moving average is C$35.57 and its two-hundred day simple moving average is C$34.70.

First Quantum Minerals (TSE:FM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The company reported C$0.01 EPS for the quarter. The firm had revenue of C$1.95 billion during the quarter. First Quantum Minerals had a negative net margin of 0.52% and a negative return on equity of 0.24%. Analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

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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