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

First Quantum Minerals (TSE:FM) had its price target hoisted by Stifel Nicolaus from C$52.00 to C$55.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other research analysts have also recently commented on FM. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price target for the company from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and raised their price target for the company from C$28.00 to C$37.00 in a report on Friday, April 24th. National Bank Financial upped their price objective on shares of First Quantum Minerals from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. Barclays upped 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. Finally, Morgan Stanley decreased their price objective on First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.96.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$39.05 on Tuesday. 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 50-day moving average of C$39.67 and a 200-day moving average of C$37.76. First Quantum Minerals has a one year low of C$22.16 and a one year high of C$46.36. The company has a market cap of C$32.34 billion, a P/E ratio of -162.71, a P/E/G ratio of -1.28 and a beta of 1.43.

First Quantum Minerals (TSE:FM) last announced its 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%. Equities research analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Quantum Minerals news, insider Gavin Ashley sold 20,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of C$46.00, for a total value of C$920,000.00. Following the sale, 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 position. Also, Director Kathleen Applegate Hogenson acquired 1,073 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their position. Corporate 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.