First Quantum Minerals (TSE:FM) Stock Rating Lowered by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. downgraded First Quantum Minerals from "overweight" to "underperform" and cut its price target to C$28 (from C$48), implying about an 11.4% downside.
• Analyst views are mixed: MarketBeat shows an average rating of "Moderate Buy" with an average price target of C$40.19, as some brokers raised targets while others trimmed theirs.
• Shares traded at C$31.60 midday (market cap C$26.17B) and the company has a negative P/E; operationally, Cobre Panamá is in preservation and Ravensthorpe is in care and maintenance.

First Quantum Minerals (TSE:FM - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to an "underperform" rating in a research note issued on Monday,BayStreet.CA reports. They presently have a C$28.00 price objective on the stock, down from their previous price objective of C$48.00. JPMorgan Chase & Co.'s price target points to a potential downside of 11.39% from the company's current price.

Other equities analysts have also issued reports about the company. Jefferies Financial Group raised their price target on First Quantum Minerals from C$38.00 to C$47.00 in a report on Monday, January 12th. Morgan Stanley increased their price objective on First Quantum Minerals from C$33.50 to C$36.70 in a report on Tuesday, February 3rd. Barclays cut their target price on First Quantum Minerals from C$44.20 to C$42.90 in a research note on Tuesday, February 17th. Scotiabank upgraded First Quantum Minerals from a "hold" rating to an "outperform" rating and upped their price target for the company from C$44.00 to C$45.00 in a research report on Thursday, February 12th. Finally, National Bank Financial increased their price target on shares of First Quantum Minerals from C$42.50 to C$47.00 in a report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$40.19.

First Quantum Minerals Stock Performance

Shares of TSE FM traded down C$1.31 during midday trading on Monday, hitting C$31.60. The company's stock had a trading volume of 1,453,259 shares, compared to its average volume of 2,806,583. The firm has a market capitalization of C$26.17 billion, a price-to-earnings ratio of -1,053.33, a P/E/G ratio of -1.28 and a beta of 1.26. The company has a current ratio of 1.42, a quick ratio of 1.41 and a debt-to-equity ratio of 52.92. The stock has a fifty day moving average price of C$38.71 and a 200 day moving average price of C$32.92. First Quantum Minerals has a one year low of C$14.41 and a one year high of C$45.17.

First Quantum Minerals (TSE:FM - Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$0.01 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 company had revenue of C$1.95 billion during the quarter. On average, research analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal 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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