First Quantum Minerals (TSE:FM) Given New C$50.00 Price Target at National Bank Financial

Key Points

• National Bank Financial raised its price target on First Quantum Minerals to C$50.00 from C$47.00 and kept an outperform rating, implying about 28.9% upside from the current share price.
• Analyst sentiment remains generally constructive: several firms recently adjusted targets, and the stock now carries a consensus rating of Moderate Buy with an average price target of C$44.58.
• First Quantum’s shares traded at C$38.80 on Tuesday after rising, while the company reported a quarterly loss of C$0.25 per share on C$1.95 billion in revenue and continues to manage major mine and project updates across its global portfolio.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective hoisted by research analysts at National Bank Financial from C$47.00 to C$50.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 28.87% from the stock's current price.

Several other equities research analysts have also recently weighed in on the stock. Barclays lowered their price objective on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. BMO Capital Markets upped their target price on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Stifel Nicolaus increased their price target on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Morgan Stanley lowered their price target on shares of First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. Finally, Scotia dropped their price objective 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 research report on Thursday, April 30th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$44.58.

First Quantum Minerals Price Performance

Shares of FM stock traded up C$2.83 during trading hours on Tuesday, hitting C$38.80. 1,557,905 shares of the company's stock were exchanged, compared to its average volume of 3,084,371. First Quantum Minerals has a 52 week low of C$22.16 and a 52 week high of C$46.36. The stock has a market cap of C$32.13 billion, a price-to-earnings ratio of -161.67, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. The stock's 50-day moving average is C$39.09 and its 200-day moving average is C$37.66.

First Quantum Minerals (TSE:FM - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share (EPS) for the quarter. The business 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%. As a group, research analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Director Kathleen Applegate Hogenson bought 1,073 shares of the stock in a transaction on Tuesday, June 30th. The stock was purchased at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the acquisition, the director owned 62,240 shares of the company's stock, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their ownership of the stock. Also, insider Gavin Ashley sold 20,000 shares of the company's stock in a transaction 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 sale, the insider owned 75,905 shares of the company's stock, valued at C$3,491,630. The trade was a 20.85% decrease in their position. Corporate 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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