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

First Quantum Minerals (TSE:FM) had its target price hoisted by Barclays from C$42.00 to C$46.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Several other brokerages also recently commented on FM. Morgan Stanley cut their price objective on First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. Scotia decreased their target price on 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. Canaccord Genuity Group lowered their target price 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 note on Thursday, April 30th. Scotiabank boosted their target price on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the company a “sector outperform” rating in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price target for the stock from C$40.00 to C$50.00 in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.79.

First Quantum Minerals Stock Performance

First Quantum Minerals stock opened at C$37.39 on Thursday. 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 market capitalization of C$30.97 billion, a P/E ratio of -155.79, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a 1-year low of C$22.16 and a 1-year high of C$46.36. The company’s 50-day moving average is C$39.43 and its 200 day moving average is C$37.70.

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. 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$1.95 billion for the quarter. Research analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Buying and Selling at First Quantum Minerals

In related news, insider Gavin Ashley sold 20,000 shares of the company’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 sale, the insider directly owned 75,905 shares of the company’s stock, valued at C$3,491,630. This represents a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson acquired 1,073 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the purchase, the director owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. This trade represents a 1.75% increase in their ownership of the stock. Company 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.