First Quantum Minerals (TSE:FM) Upgraded by TD Securities to "Strong-Buy" Rating

Key Points

• TD Securities upgraded First Quantum Minerals from “hold” to “strong-buy,” signaling a more bullish outlook on the stock.
• Other analysts remain generally positive, with the consensus rating at “Moderate Buy” and an average price target of C$44.58, though several firms adjusted targets slightly lower or higher.
• First Quantum Minerals reported C($0.25) EPS on revenue of C$1.95 billion in its latest quarter, while recent insider activity included one executive sale and one director purchase.

First Quantum Minerals (TSE:FM - Get Free Report) was upgraded by investment analysts at TD Securities from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on FM. Morgan Stanley dropped their price target on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised 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. 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 note on Thursday, April 30th. Barclays dropped their price objective on First Quantum Minerals from C$44.60 to C$42.20 in a report on Monday, May 4th. Finally, Scotiabank lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, First Quantum Minerals has an average rating of "Moderate Buy" and an average price target of C$44.58.

First Quantum Minerals Stock Performance

Shares of TSE FM opened at C$38.94 on Tuesday. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. The stock's fifty day moving average price is C$39.24 and its two-hundred day moving average price is C$37.68. First Quantum Minerals has a one year low of C$22.16 and a one year high of C$46.36. The firm has a market cap of C$32.25 billion, a price-to-earnings ratio of -162.25, a P/E/G ratio of -1.28 and a beta of 1.43.

First Quantum Minerals (TSE:FM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The business had revenue of C$1.95 billion during the quarter. On average, equities analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Activity at First Quantum Minerals

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