First Quantum Minerals (TSE:FM) Price Target Raised to C$55.00 at Stifel Nicolaus

by · The Markets Daily

First Quantum Minerals (TSE:FM – Get Free Report) had its price target upped by stock analysts at Stifel Nicolaus from C$52.00 to C$55.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 38.19% from the company’s current price.

A number of other brokerages have also commented on FM. JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and increased their price objective for the company from C$28.00 to C$37.00 in a research report on Friday, April 24th. Scotia dropped their target price on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 30th. BMO Capital Markets upped their price target on First Quantum Minerals from C$40.00 to C$48.00 in a research note on Wednesday, April 22nd. National Bank Financial raised their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. One 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$44.96.

Check Out Our Latest Analysis on First Quantum Minerals

First Quantum Minerals Price Performance

Shares of FM stock traded up C$2.21 during trading hours on Tuesday, reaching C$39.80. 1,386,619 shares of the company were exchanged, compared to its average volume of 3,060,012. First Quantum Minerals has a fifty-two week low of C$22.16 and a fifty-two week high of C$46.36. The stock’s fifty day moving average is C$39.52 and its two-hundred day moving average is C$37.71. The company has a market cap of C$32.96 billion, a price-to-earnings ratio of -165.83, a P/E/G ratio of -1.28 and a beta of 1.43. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41.

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

Insider Buying and Selling

In other First Quantum Minerals news, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals 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 sale, the insider owned 75,905 shares of the company’s stock, valued at approximately C$3,491,630. The trade was a 20.85% decrease in their position. Also, Director Kathleen Applegate Hogenson bought 1,073 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the transaction, the director directly owned 62,240 shares in the company, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their position. 19.35% of the stock is currently owned by company insiders.

About First Quantum Minerals

(Get Free Report)

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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