Insider Buying: First Quantum Minerals (TSE:FM) Director Buys C$40,269.69 in Stock

First Quantum Minerals Ltd. (TSE:FM) Director Kathleen Applegate Hogenson bought 1,073 shares of First Quantum Minerals 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 completion of the acquisition, the director owned 62,240 shares in the company, valued at C$2,335,867.20. This represents a 1.75% increase in their position.

First Quantum Minerals Stock Up 1.1%

FM stock opened at C$39.80 on Friday. First Quantum Minerals Ltd. has a one year low of C$22.16 and a one year high of C$46.36. The company has a 50 day moving average price of C$38.73 and a two-hundred day moving average price of C$37.52. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76. The stock has a market capitalization of C$32.96 billion, a P/E ratio of -165.83, a PEG ratio of -1.28 and a beta of 1.36.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) 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 during the quarter. As a group, sell-side analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FM. Morgan Stanley raised First Quantum Minerals from an “equal” rating to an “overweight” rating and lifted their price objective for the company from C$37.70 to C$42.20 in a research note on Tuesday, May 19th. Scotia decreased their price objective 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 research report on Thursday, April 30th. Barclays reduced their target price on First Quantum Minerals from C$44.60 to C$42.20 in a research note on Monday, May 4th. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$38.00 to C$50.00 in a report on Thursday, March 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and upped their target price for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.