First Quantum Minerals (TSE:FM) Rating Increased to Buy at UBS Group

First Quantum Minerals (TSE:FM) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a C$50.00 price objective on the stock, up from their prior price objective of C$38.00. UBS Group’s target price would indicate a potential upside of 48.77% from the company’s previous close.

Several other equities research analysts also recently weighed in on FM. Scotiabank upgraded shares of First Quantum Minerals from a “hold” rating to an “outperform” rating and raised their target price for the company from C$44.00 to C$45.00 in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce raised their price target on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research note on Wednesday, February 4th. Jefferies Financial Group increased their price objective on shares of First Quantum Minerals from C$38.00 to C$47.00 in a report on Monday, January 12th. JPMorgan Chase & Co. cut First Quantum Minerals from an “overweight” rating to an “underperform” rating and lowered their target price for the stock from C$48.00 to C$28.00 in a report on Monday. Finally, Royal Bank Of Canada lifted their price objective on First Quantum Minerals from C$35.00 to C$40.00 in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price of C$40.84.

First Quantum Minerals Trading Up 0.3%

FM traded up C$0.10 on Thursday, reaching C$33.61. 796,070 shares of the company traded hands, compared to its average volume of 2,816,342. The company has a market cap of C$27.84 billion, a P/E ratio of -1,120.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.26. The company has a quick ratio of 1.41, a current ratio of 1.42 and a debt-to-equity ratio of 52.92. First Quantum Minerals has a one year low of C$14.41 and a one year high of C$45.17. The firm has a fifty day simple moving average of C$38.48 and a two-hundred day simple moving average of C$33.05.

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