First Quantum Minerals (TSE:FM) Upgraded to Neutral at JPMorgan Chase & Co.

First Quantum Minerals (TSE:FM) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Friday,BayStreet.CA reports. The firm presently has a C$37.00 target price on the stock, up from their previous target price of C$28.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.01% from the stock’s current price.

A number of other analysts also recently commented on the stock. BMO Capital Markets boosted their target price on shares of First Quantum Minerals from C$40.00 to C$48.00 in a report on Wednesday. Morgan Stanley decreased their price target on shares of First Quantum Minerals from C$40.00 to C$37.70 in a research report on Thursday, April 9th. UBS Group raised First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price target for the company from C$38.00 to C$50.00 in a report on Thursday, March 12th. Desjardins raised their price objective on First Quantum Minerals from C$34.00 to C$40.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Finally, Barclays lifted their target price on First Quantum Minerals from C$42.90 to C$44.60 in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$42.33.

First Quantum Minerals Price Performance

FM traded down C$1.15 on Friday, reaching C$36.27. The company had a trading volume of 1,661,388 shares, compared to its average volume of 2,815,969. The company has a fifty day moving average of C$35.60 and a 200-day moving average of C$34.75. The company has a market capitalization of C$30.04 billion, a P/E ratio of -1,209.00, a PEG ratio of -1.28 and a beta of 1.50. 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 one year low of C$17.66 and a one year high of C$45.17.

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