First Quantum Minerals (TSE:FM) Price Target Raised to C$46.00 at Barclays

Key Points

• Barclays raised its price target on First Quantum Minerals to C$46.00 from C$42.00, implying about 22.6% upside from the prior close.
• Other analysts remain mostly constructive: the stock carries a Moderate Buy consensus with an average target price of C$44.79, though several firms recently trimmed or adjusted their targets.
• First Quantum shares traded lower on the day at C$37.52, while the company’s latest quarter showed a net loss of C($0.25) per share on revenue of C$1.95 billion.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective increased by equities researchers at Barclays from C$42.00 to C$46.00 in a note issued to investors on Thursday,BayStreet.CA reports. Barclays's price target points to a potential upside of 22.60% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group lowered their price objective on First Quantum Minerals from C$48.00 to C$46.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Morgan Stanley decreased their price target on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research note on Wednesday, July 8th. BMO Capital Markets lifted their price objective on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research note on Wednesday, April 22nd. Scotia decreased their target price on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised shares of First Quantum Minerals from an "underweight" rating to a "neutral" rating and raised their target price for the stock from C$28.00 to C$37.00 in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$44.79.

First Quantum Minerals Stock Performance

FM stock traded down C$0.91 during mid-day trading on Thursday, hitting C$37.52. 945,121 shares of the company were exchanged, compared to its average volume of 3,071,615. First Quantum Minerals has a 1-year low of C$22.16 and a 1-year high of C$46.36. The stock has a market capitalization of C$31.07 billion, a PE ratio of -156.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The business has a 50 day simple moving average of C$39.34 and a 200-day simple moving average of C$37.70. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67.

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 for the quarter. The firm had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%. On average, equities analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Transactions at First Quantum Minerals

In related news, Director Kathleen Applegate Hogenson acquired 1,073 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of C$37.53 per share, for a total transaction of C$40,269.69. Following the acquisition, the director directly owned 62,240 shares in the company, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their position. Also, insider Gavin Ashley sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of C$46.00, for a total transaction of C$920,000.00. Following the completion of the sale, the insider directly owned 75,905 shares in the company, valued at C$3,491,630. This represents a 20.85% decrease in their ownership of the stock. 19.35% of the stock is currently owned by company insiders.

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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