First Quantum Minerals (TSE:FM) Given New C$55.00 Price Target at Scotiabank

First Quantum Minerals (TSE:FM) had its target price raised by investment analysts at Scotiabank from C$48.00 to C$55.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 20.91% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Canaccord Genuity Group lowered their price target on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Barclays cut their price target on First Quantum Minerals from C$44.60 to C$42.20 in a research note on Monday, May 4th. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the company from C$38.00 to C$50.00 in a research note on Thursday, March 12th. Stifel Nicolaus boosted their price target on First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Finally, BMO Capital Markets upped their target price on First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$44.24.

First Quantum Minerals Stock Performance

First Quantum Minerals stock traded up C$2.10 during midday trading on Monday, hitting C$45.49. The stock had a trading volume of 1,944,783 shares, compared to its average volume of 3,064,457. The firm’s fifty day moving average is C$37.85 and its two-hundred day moving average is C$36.67. The company has a market capitalization of C$37.67 billion, a PE ratio of -189.54, a P/E/G ratio of -1.28 and a beta of 1.36. First Quantum Minerals has a 52-week low of C$21.02 and a 52-week high of C$46.36. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM) last released 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 return on equity of 1.78% and a negative net margin of 3.69%.The firm had revenue of C$1.95 billion during the quarter. On average, research analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current 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.