First Quantum Minerals (TSE:FM) Price Target Raised to C$52.00

First Quantum Minerals (TSE:FM) had its price target raised by Royal Bank Of Canada from C$45.00 to C$52.00 in a research note issued to investors on Wednesday,BayStreet reports.

A number of other equities research analysts have also recently weighed in on the company. Barclays increased their price target on First Quantum Minerals from C$42.00 to C$46.00 in a research note on Thursday, July 16th. Stifel Nicolaus lifted their price objective on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Scotiabank raised their target price on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. Morgan Stanley cut their target price on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research note on Wednesday, July 8th. Finally, TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$46.34.

First Quantum Minerals Trading Down 0.9%

First Quantum Minerals stock opened at C$43.57 on Wednesday. The stock has a 50-day simple moving average of C$42.59 and a 200 day simple moving average of C$39.02. The stock has a market capitalization of C$36.35 billion, a P/E ratio of -484.11, a PEG ratio of -1.28 and a beta of 1.43. The company has a debt-to-equity ratio of 54.66, a quick ratio of 1.41 and a current ratio of 1.90. First Quantum Minerals has a 52 week low of C$26.43 and a 52 week high of C$49.27.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 0.73%. The business had revenue of C$2.16 billion during the quarter. Analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kathleen Applegate Hogenson acquired 1,073 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of C$37.53 per share, for a total transaction of C$40,269.69. Following the transaction, the director directly owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. This represents a 1.75% increase in their ownership of the stock. 19.35% of the stock is currently owned by corporate insiders.

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.