First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

First Quantum Minerals (TSE:FM) had its price target upped by Stifel Nicolaus from C$52.00 to C$55.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 40.31% from the stock’s previous close.

Several other analysts have also commented on the company. Scotia dropped their price objective on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 30th. Morgan Stanley reduced their target price on First Quantum Minerals from C$46.30 to C$45.20 in a research note on Wednesday, July 8th. Canaccord Genuity Group decreased their target price on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research 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. Finally, BMO Capital Markets boosted their price target on shares of First Quantum Minerals from C$40.00 to C$48.00 in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$44.96.

First Quantum Minerals Trading Down 1.0%

FM stock opened at C$39.20 on Tuesday. 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 quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67. The firm has a market cap of C$32.46 billion, a P/E ratio of -163.33, a PEG ratio of -1.28 and a beta of 1.43. The company’s 50-day simple moving average is C$39.63 and its 200-day simple moving average is C$37.75.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share for the quarter. The business had revenue of C$1.95 billion during the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. As a group, equities analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Activity

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