First Quantum Minerals (TSE:FM) Given New C$48.00 Price Target at Scotiabank

First Quantum Minerals (TSE:FM) had its price target increased by investment analysts at Scotiabank from C$44.00 to C$48.00 in a research note issued on Wednesday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 29.59% from the stock’s current price.

FM has been the subject of a number of other reports. Scotia dropped their price target on shares of 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. Stifel Nicolaus lifted their price target on shares of 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. Desjardins lifted their price target on shares of First Quantum Minerals from C$34.00 to C$40.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Barclays dropped their price target on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. Finally, Canaccord Genuity Group dropped their price target on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Moderate Buy” and a consensus target price of C$42.66.

First Quantum Minerals Price Performance

Shares of TSE FM traded up C$1.04 during mid-day trading on Wednesday, reaching C$37.04. The company’s stock had a trading volume of 2,237,633 shares, compared to its average volume of 2,979,938. The stock has a 50-day moving average of C$34.70 and a two-hundred day moving average of C$34.99. The stock has a market capitalization of C$30.68 billion, a P/E ratio of -154.33, a P/E/G ratio of -1.28 and a beta of 1.49. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76. First Quantum Minerals has a 1-year low of C$19.25 and a 1-year high of C$45.17.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. The firm 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%. On average, equities research analysts anticipate 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.