First Quantum Minerals Ltd. (TSE:FM) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of First Quantum Minerals Ltd. (TSE:FM) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$46.34.

A number of equities research analysts recently commented on FM shares. Barclays increased their target price on shares of First Quantum Minerals from C$42.00 to C$46.00 in a research report on Thursday, July 16th. Stifel Nicolaus upped their price target on 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 upped their target price 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. Canadian Imperial Bank of Commerce cut their price objective on shares of First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. Finally, Royal Bank Of Canada lifted their target price on shares of First Quantum Minerals from C$45.00 to C$52.00 in a research note on Wednesday, September 16th.

First Quantum Minerals Stock Up 3.3%

First Quantum Minerals stock opened at C$40.63 on Thursday. The business has a fifty day moving average of C$43.68 and a two-hundred day moving average of C$39.72. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 54.66. The firm has a market cap of C$33.89 billion, a P/E ratio of -451.44, a P/E/G ratio of -1.28 and a beta of 1.47. First Quantum Minerals has a twelve month low of C$27.06 and a twelve month high of C$49.27.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C($0.19) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%.The company had revenue of C$2.16 billion for the quarter. On average, analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Activity at First Quantum Minerals

In other news, insider Robert Richard Cayton Stone sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$46.63, for a total transaction of C$932,600.00. Following the sale, the insider directly owned 69,196 shares of the company’s stock, valued at C$3,226,609.48. The trade was a 22.42% decrease in their ownership of the stock. 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.