First Quantum Minerals (TSE:FM) Cut to Underperform at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of First Quantum Minerals (TSE:FM) from an overweight rating to an underperform rating in a research report sent to investors on Monday morning,BayStreet.CA reports. JPMorgan Chase & Co. currently has C$28.00 price objective on the stock, down from their previous price objective of C$48.00.

FM has been the subject of a number of other research reports. Jefferies Financial Group increased their target price on First Quantum Minerals from C$38.00 to C$47.00 in a research note on Monday, January 12th. National Bank Financial boosted their price target on First Quantum Minerals from C$42.50 to C$47.00 in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft cut First Quantum Minerals from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$35.00 to C$33.00 in a report on Wednesday, November 26th. Scotiabank upgraded shares of First Quantum Minerals from a “hold” rating to an “outperform” rating and lifted their price objective for the company from C$44.00 to C$45.00 in a research note on Thursday, February 12th. Finally, Barclays reduced their target price on shares of First Quantum Minerals from C$44.20 to C$42.90 in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$40.19.

First Quantum Minerals Stock Performance

TSE:FM opened at C$33.51 on Monday. The firm’s fifty day simple moving average is C$38.48 and its 200 day simple moving average is C$33.05. The company has a current ratio of 1.42, a quick ratio of 1.41 and a debt-to-equity ratio of 52.92. First Quantum Minerals has a twelve month low of C$14.41 and a twelve month high of C$45.17. The firm has a market capitalization of C$27.75 billion, a price-to-earnings ratio of -1,117.00, a PEG ratio of -1.28 and a beta of 1.26.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$0.01 earnings per share (EPS) for the quarter. First Quantum Minerals had a negative return on equity of 0.24% and a negative net margin of 0.52%.The firm had revenue of C$1.95 billion during the quarter. As a group, equities research analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

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.