First Quantum Minerals (TSE:FM) Posts Earnings Results

First Quantum Minerals (TSE:FM) released its earnings results on Tuesday. The company reported C($0.19) earnings per share for the quarter, reports. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. The business had revenue of C$2.16 billion during the quarter.

First Quantum Minerals Stock Down 2.3%

Shares of TSE FM opened at C$37.51 on Wednesday. The company’s 50 day moving average price is C$39.88 and its 200-day moving average price is C$37.75. 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 52-week low of C$22.16 and a 52-week high of C$46.36. The company has a market capitalization of C$31.07 billion, a P/E ratio of -156.29, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FM shares. Scotiabank boosted their price objective on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. National Bank Financial increased their price target on shares of First Quantum Minerals from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. TD Securities raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised First Quantum Minerals from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from C$28.00 to C$37.00 in a report on Friday, April 24th. Finally, Canaccord Genuity Group lowered their price objective on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy” and a consensus target price of C$44.96.

Insider Buying and Selling at First Quantum Minerals

In other news, Director Kathleen Applegate Hogenson purchased 1,073 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the transaction, the director owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. The trade was a 1.75% increase in their position. Also, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the sale, the insider owned 75,905 shares of the company’s stock, valued at approximately C$3,491,630. The trade was a 20.85% decrease in their ownership of the stock. 19.35% of the stock is owned by 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.