Gavin Ashley Sells 20,000 Shares of First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals Ltd. (TSE:FM) insider Gavin Ashley sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 75,905 shares in the company, valued at C$3,491,630. This represents a 20.85% decrease in their ownership of the stock.

First Quantum Minerals Trading Down 0.7%

TSE FM opened at C$43.01 on Friday. The business has a 50 day simple moving average of C$38.70 and a 200 day simple moving average of C$37.11. First Quantum Minerals Ltd. has a one year low of C$21.02 and a one year high of C$46.36. The stock has a market capitalization of C$35.62 billion, a P/E ratio of -179.21, a P/E/G ratio of -1.28 and a beta of 1.36. 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 (TSE:FM) last issued its earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The business had revenue of C$1.95 billion during the quarter. Research analysts expect that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FM shares. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their target price for the company from C$38.00 to C$50.00 in a research report on Thursday, March 12th. Scotia reduced 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 report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. Scotiabank increased 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 report on Monday, June 15th. Finally, Morgan Stanley raised shares of First Quantum Minerals from an “equal” rating to an “overweight” rating and increased their price objective for the stock from C$37.70 to C$42.20 in a research report on Tuesday, May 19th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$44.24.

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.