First Quantum Minerals (TSE:FM) Shares Down 31.1% - Time to Sell?

Key Points

• First Quantum Minerals shares plunged 31.1% to C$31.10, well below their 50-day and 200-day moving averages, with nearly 1.95 million shares traded.
• Despite the selloff, analysts maintain a generally positive view: the stock has a consensus rating of “Moderate Buy” and an average price target of C$46.34.
• The company reported a quarterly loss of C$0.19 per share on C$2.16 billion in revenue, while an insider sold 20,000 shares at C$46.63; insiders continue to own 19.35% of the company.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price traded down 31.1% on Wednesday. The stock traded as low as C$28.00 and last traded at C$31.10. 1,949,995 shares were traded during trading, a decline of 32% from the average session volume of 2,868,799 shares. The stock had previously closed at C$45.12.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays increased their price target on shares of First Quantum Minerals from C$42.00 to C$46.00 in a research report on Thursday, July 16th. Stifel Nicolaus increased their target price on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Scotiabank lifted their target price on shares of 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. Royal Bank Of Canada boosted their price target on shares of First Quantum Minerals from C$45.00 to C$52.00 in a report on Wednesday, September 16th. Finally, National Bank Financial set a C$50.00 price target on shares of First Quantum Minerals and gave the stock an "outperform" rating in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$46.34.

First Quantum Minerals Trading Down 31.1%

The company has a 50 day moving average of C$43.65 and a 200 day moving average of C$39.55. The firm has a market cap of C$25.94 billion, a P/E ratio of -345.56, a PEG ratio of -1.28 and a beta of 1.43. The company has a debt-to-equity ratio of 54.66, a quick ratio of 1.41 and a current ratio of 1.90.

First Quantum Minerals (TSE:FM - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$2.16 billion during the quarter. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 0.73%. Analysts predict that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

Insider Activity

In related news, insider Robert Richard Cayton Stone sold 20,000 shares of First Quantum Minerals stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$46.63, for a total value of C$932,600.00. Following the completion of the sale, the insider owned 69,196 shares of the company's stock, valued at approximately C$3,226,609.48. The trade was a 22.42% decrease in their position. Insiders own 19.35% of the company's stock.

About First Quantum Minerals

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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