First Quantum Minerals (TSE:FM) Raised to “Strong-Buy” at TD Securities

First Quantum Minerals (TSE:FM) was upgraded by research analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently weighed in on FM. Canaccord Genuity Group decreased their price objective on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Scotia cut their target price on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 30th. Scotiabank upped 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 report on Monday, June 15th. Stifel Nicolaus upped their price target on First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Finally, National Bank Financial increased their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, First Quantum Minerals has a consensus rating of “Moderate Buy” and a consensus price target of C$44.58.

First Quantum Minerals Trading Up 8.3%

FM opened at C$38.94 on Tuesday. First Quantum Minerals has a fifty-two week low of C$22.16 and a fifty-two week high of C$46.36. 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 firm has a market capitalization of C$32.25 billion, a price-to-earnings ratio of -162.25, a PEG ratio of -1.28 and a beta of 1.43. The company’s 50 day moving average price is C$39.24 and its two-hundred day moving average price is C$37.68.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Wednesday, April 29th. The company reported C($0.25) 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 3.69% and a negative return on equity of 1.78%. As a group, research analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insiders Place Their Bets

In related 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 transaction, the insider owned 75,905 shares of the company’s stock, valued at C$3,491,630. This trade represents a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson bought 1,073 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of C$37.53 per share, for a total transaction of C$40,269.69. Following the acquisition, the director owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. This trade represents a 1.75% increase in their ownership of the stock. 19.35% of the stock is owned by company 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.