Morgan Stanley Lowers First Quantum Minerals (TSE:FM) Price Target to C$37.70

Key Points

• Morgan Stanley cut its price target for First Quantum Minerals from C$40.00 to C$37.70, implying only about a 0.45% potential upside from the current share price.
• Analysts are mixed—UBS raised its target to C$50 and Stifel to C$47 while Barclays trimmed to C$42.90—resulting in a consensus target of C$40.91 and an average rating of "Moderate Buy" (2 Strong Buy, 8 Buy, 4 Hold, 1 Sell).
• First Quantum trades near C$37.53 with a market cap of C$31.08 billion and a negative PE, and is managing operations such as Cobre Panamá (preservation) and Ravensthorpe (care-and-maintenance) while progressing projects like Taca Taca.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price reduced by equities researchers at Morgan Stanley from C$40.00 to C$37.70 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Morgan Stanley's price objective would indicate a potential upside of 0.45% from the company's current price.

Several other equities analysts have also recently issued reports on FM. Stifel Nicolaus upped their target price on shares of First Quantum Minerals from C$38.00 to C$47.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Canadian Imperial Bank of Commerce upped their target price on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research note on Wednesday, February 4th. Barclays lowered their target price on shares of First Quantum Minerals from C$44.20 to C$42.90 in a research note on Tuesday, February 17th. UBS Group upgraded shares of First Quantum Minerals from a "hold" rating to a "buy" rating and upped their target price for the company from C$38.00 to C$50.00 in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada upped their target price on shares of First Quantum Minerals from C$35.00 to C$40.00 in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$40.91.

First Quantum Minerals Stock Performance

FM traded down C$0.04 during midday trading on Thursday, hitting C$37.53. 827,407 shares of the company traded hands, compared to its average volume of 2,877,273. The company has a quick ratio of 1.41, a current ratio of 1.42 and a debt-to-equity ratio of 52.92. The firm has a market capitalization of C$31.08 billion, a PE ratio of -1,251.00, a price-to-earnings-growth ratio of -1.28 and a beta of 1.50. The company's 50-day moving average is C$35.61 and its 200 day moving average is C$34.14. First Quantum Minerals has a 52 week low of C$15.12 and a 52 week high of C$45.17.

First Quantum Minerals (TSE:FM - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported C$0.01 earnings per share (EPS) for the quarter. The business 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%. On average, research analysts expect that First Quantum Minerals will post 0.55872 EPS 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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