First Quantum Minerals (TSE:FM) Given New C$55.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target on First Quantum Minerals to C$55.00 from C$52.00 and kept a buy rating, implying meaningful upside from the prior close.
• Several other analysts have also turned more bullish, including Deutsche Bank and TD Securities, while the broader consensus remains Moderate Buy with an average target of C$44.96.
• The stock recently traded at C$39.80, and the company reported a quarterly loss of C$0.25 per share on revenue of C$1.95 billion, with insiders showing mixed activity through one sale and one purchase.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price increased by equities researchers at Stifel Nicolaus from C$52.00 to C$55.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 38.19% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$40.00 to C$50.00 in a report on Wednesday, June 3rd. Scotia cut 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 research note on Thursday, April 30th. Morgan Stanley decreased their price objective on First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. Scotiabank upped their price objective on First Quantum Minerals from C$48.00 to C$55.00 and gave the company a "sector outperform" rating in a research note on Monday, June 15th. Finally, TD Securities upgraded First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$44.96.

First Quantum Minerals Stock Performance

First Quantum Minerals stock traded up C$2.21 during trading hours on Tuesday, hitting C$39.80. The stock had a trading volume of 1,386,619 shares, compared to its average volume of 3,060,012. The company has a 50-day moving average of C$39.52 and a two-hundred day moving average of C$37.71. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67. First Quantum Minerals has a fifty-two week low of C$22.16 and a fifty-two week high of C$46.36. The company has a market cap of C$32.96 billion, a PE ratio of -165.83, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43.

First Quantum Minerals (TSE:FM - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported C($0.25) 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 3.69% and a negative return on equity of 1.78%. On average, equities research analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals 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 value of C$920,000.00. Following the completion of the transaction, the insider owned 75,905 shares in the company, valued at approximately C$3,491,630. The trade was a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson bought 1,073 shares of First Quantum Minerals stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of C$37.53 per share, for a total transaction of C$40,269.69. Following the completion of the acquisition, the director directly owned 62,240 shares in the company, valued at C$2,335,867.20. This represents a 1.75% increase 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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