Barclays Issues Pessimistic Forecast for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price objective decreased by investment analysts at Barclays from C$44.60 to C$42.20 in a note issued to investors on Monday,BayStreet.CA reports. Barclays‘s target price suggests a potential upside of 35.08% from the stock’s previous close.

Several other brokerages have also recently issued reports on FM. Scotiabank raised shares of First Quantum Minerals from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$44.00 to C$45.00 in a research note on Thursday, February 12th. Stifel Nicolaus lifted their price objective on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Morgan Stanley lowered their price objective on shares of First Quantum Minerals from C$40.00 to C$37.70 in a research note on Thursday, April 9th. Canaccord Genuity Group dropped their target price on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group boosted their price target on shares of First Quantum Minerals from C$38.00 to C$47.00 in a report on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$42.49.

First Quantum Minerals Price Performance

Shares of FM traded down C$1.10 during mid-day trading on Monday, hitting C$31.24. The company’s stock had a trading volume of 1,739,599 shares, compared to its average volume of 2,878,542. The firm has a 50-day moving average price of C$35.42 and a 200 day moving average price of C$34.87. The stock has a market capitalization of C$25.87 billion, a price-to-earnings ratio of -130.17, a PEG ratio of -1.28 and a beta of 1.50. 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 has a fifty-two week low of C$18.43 and a fifty-two week high of C$45.17.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data 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 during the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%. On average, research analysts predict that First Quantum Minerals will post 0.55872 EPS for the current fiscal 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.