First Quantum Minerals (TSE:FM) Price Target Cut to C$41.00 by Analysts at Canadian Imperial Bank of Commerce

First Quantum Minerals (TSE:FM) had its price target cut by equities research analysts at Canadian Imperial Bank of Commerce from C$44.00 to C$41.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 6.05% from the stock’s current price.

Several other research analysts have also recently commented on the company. Barclays boosted their price target on First Quantum Minerals from C$42.00 to C$46.00 in a research note on Thursday, July 16th. Morgan Stanley dropped their price objective on First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. Stifel Nicolaus upped their target price on First Quantum Minerals from C$52.00 to C$55.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Scotiabank increased their target price on First Quantum Minerals from C$48.00 to C$55.00 and gave the company a “sector outperform” rating in a research note on Monday, June 15th. Finally, Canaccord Genuity Group decreased their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$44.68.

First Quantum Minerals Stock Up 1.8%

First Quantum Minerals stock traded up C$0.69 during midday trading on Thursday, hitting C$38.66. 1,504,675 shares of the stock were exchanged, compared to its average volume of 3,062,828. First Quantum Minerals has a 1 year low of C$22.16 and a 1 year high of C$46.36. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. The firm has a market cap of C$32.02 billion, a P/E ratio of -161.08, a P/E/G ratio of -1.28 and a beta of 1.43. The company has a 50 day moving average price of C$39.93 and a two-hundred day moving average price of C$37.75.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C($0.19) earnings per share for the quarter. The firm had revenue of C$2.16 billion during the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. On average, sell-side analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Transactions at First Quantum Minerals

In related news, insider Gavin Ashley sold 20,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the sale, the insider directly owned 75,905 shares of the company’s stock, valued at C$3,491,630. The trade was a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson acquired 1,073 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the acquisition, the director owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. The trade was a 1.75% increase in their ownership of the stock. 19.35% of the stock is currently owned by company insiders.

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.