First Quantum Minerals (TSE:FM) Price Target Lowered to C$44.00 at Scotia

Key Points

• Scotia lowered its price target on First Quantum Minerals to C$44.00 (from C$47.00) but kept a "sector outperform" rating, implying roughly a 31.93% upside from the current share price.
• Analyst consensus shows an average price target of C$42.63 with a "Moderate Buy" rating (10 Buys, 5 Holds); shares traded at C$33.35 midday (up 2.7%) and the company has a market cap of C$27.62 billion.
• First Quantum reported a quarterly loss of C($0.25) EPS and has placed its Cobre Panamá mine into preservation and Ravensthorpe into care and maintenance, while continuing to advance the Taca Taca and other projects.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective lowered by equities research analysts at Scotia from C$47.00 to C$44.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotia's price target indicates a potential upside of 31.93% from the company's current price.

FM has been the topic of several other reports. BMO Capital Markets raised their price objective on First Quantum Minerals from C$40.00 to C$48.00 in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. upgraded First Quantum Minerals from an "underweight" rating to a "neutral" rating and increased their price target for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. National Bank Financial upped their price objective on First Quantum Minerals from C$42.50 to C$47.00 in a research note on Thursday, January 29th. Stifel Nicolaus upped their price objective on First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Finally, Desjardins raised their target price on First Quantum Minerals from C$34.00 to C$40.00 and gave the company a "hold" rating in a research note on Monday, January 26th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$42.63.

First Quantum Minerals Stock Up 2.7%

Shares of TSE FM traded up C$0.89 during midday trading on Thursday, reaching C$33.35. 2,849,095 shares of the company's stock were exchanged, compared to its average volume of 2,860,985. The stock has a market capitalization of C$27.62 billion, a PE ratio of -1,111.67, a price-to-earnings-growth ratio of -1.28 and a beta of 1.50. First Quantum Minerals has a 52-week low of C$18.42 and a 52-week high of C$45.17. 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 business's fifty day moving average price is C$35.48 and its two-hundred day moving average price is C$34.84.

First Quantum Minerals (TSE:FM - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative net margin of 0.52% and a negative return on equity of 0.24%. The business had revenue of C$1.95 billion during the quarter. Analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current 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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