First Quantum Minerals (TSE:FM) Upgraded to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded First Quantum Minerals from "underweight" to "neutral" and raised its target price from C$28 to C$37, implying roughly a 2% upside from the prior close.
• Analyst sentiment is mixed-to-positive with a consensus rating of "Moderate Buy", eight Buys and five Holds, and an average target price of C$42.33—well above JPMorgan's C$37 target.
• Shares fell 3.1% to C$36.27 on heavy volume; the company has a C$30.0B market cap and negative P/E, and is managing mine shutdowns (Cobre Panamá preservation, Ravensthorpe care and maintenance) while progressing projects like Taca Taca, La Granja and Haquira.

First Quantum Minerals (TSE:FM - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a C$37.00 target price on the stock, up from their previous target price of C$28.00. JPMorgan Chase & Co.'s price objective points to a potential upside of 2.01% from the company's previous close.

FM has been the topic of a number of other research reports. Morgan Stanley dropped their price objective on shares of First Quantum Minerals from C$40.00 to C$37.70 in a report on Thursday, April 9th. Jefferies Financial Group increased their price objective on shares of First Quantum Minerals from C$38.00 to C$47.00 in a report on Monday, January 12th. UBS Group raised shares of First Quantum Minerals from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$38.00 to C$50.00 in a report on Thursday, March 12th. Barclays increased their price objective on shares of First Quantum Minerals from C$42.90 to C$44.60 in a report on Monday. Finally, Stifel Nicolaus increased their price objective on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and an average target price of C$42.33.

First Quantum Minerals Stock Down 3.1%

Shares of FM stock traded down C$1.15 on Friday, hitting C$36.27. The stock had a trading volume of 1,661,388 shares, compared to its average volume of 2,815,969. The firm has a market capitalization of C$30.04 billion, a price-to-earnings ratio of -1,209.00, a P/E/G ratio of -1.28 and a beta of 1.50. The stock's 50 day moving average is C$35.60 and its 200-day moving average is C$34.75. The company has a debt-to-equity ratio of 52.92, a quick ratio of 1.41 and a current ratio of 1.42. First Quantum Minerals has a 52-week low of C$17.66 and a 52-week high of C$45.17.

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