First Quantum Minerals (TSE:FM) Price Target Raised to C$44.60 at Barclays

Key Points

• Barclays raised its price target on First Quantum to C$44.60, implying about a 13.4% upside; MarketBeat shows a consensus of Moderate Buy with an average target of C$41.35 (8 buys, 4 holds, 1 sell).
• Shares traded at C$39.33 midday with a market cap of C$32.57 billion; the stock's 12‑month range is C$15.59–C$45.17 and its 50/200‑day moving averages are C$35.59/C$34.62.
• First Quantum produces copper, nickel and gold with operating mines in Zambia, Türkiye and Mauritania, while Cobre Panamá is in preservation and Ravensthorpe is in care and maintenance as the company advances projects like Taca Taca and Peruvian exploration targets.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price raised by equities researchers at Barclays from C$42.90 to C$44.60 in a research report issued on Monday,BayStreet.CA reports. Barclays's target price points to a potential upside of 13.40% from the company's current price.

Several other research firms also recently issued reports on FM. Stifel Nicolaus boosted their price target on 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. UBS Group upgraded First Quantum Minerals from a "hold" rating to a "buy" rating and boosted their price target for the company from C$38.00 to C$50.00 in a research note on Thursday, March 12th. Desjardins boosted their price target 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. Morgan Stanley reduced their price target on First Quantum Minerals from C$40.00 to C$37.70 in a research note on Thursday, April 9th. Finally, Jefferies Financial Group boosted their price target on First Quantum Minerals from C$38.00 to C$47.00 in a research note on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and an average target price of C$41.35.

First Quantum Minerals Stock Performance

Shares of TSE FM traded down C$0.37 during midday trading on Monday, hitting C$39.33. 1,172,366 shares of the company's stock were exchanged, compared to its average volume of 2,822,775. The company has a quick ratio of 1.41, a current ratio of 1.42 and a debt-to-equity ratio of 52.92. First Quantum Minerals has a 12 month low of C$15.59 and a 12 month high of C$45.17. The company's 50 day moving average price is C$35.59 and its 200 day moving average price is C$34.62. The firm has a market capitalization of C$32.57 billion, a PE ratio of -1,311.00, a price-to-earnings-growth ratio of -1.28 and a beta of 1.50.

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