First Quantum Minerals (TSE:FM) Rating Increased to Strong-Buy at TD Securities

TD Securities upgraded shares of First Quantum Minerals (TSE:FM) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on FM. Scotia cut their price objective on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 30th. Barclays dropped their price target on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research note on Monday, May 4th. BMO Capital Markets lifted their price target on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the company from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. Finally, Scotiabank increased their price objective on First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.58.

First Quantum Minerals Stock Up 8.3%

Shares of TSE:FM opened at C$38.94 on Tuesday. First Quantum Minerals has a 52-week low of C$22.16 and a 52-week high of C$46.36. The stock has a market cap of C$32.25 billion, a P/E ratio of -162.25, a PEG ratio of -1.28 and a beta of 1.43. The business has a fifty day moving average of C$39.24 and a two-hundred day moving average of C$37.68. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. The company had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%. On average, research analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Activity at First Quantum Minerals

In related news, 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 price of C$37.53 per share, with a total value of C$40,269.69. Following the transaction, the director owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their position. Also, insider Gavin Ashley sold 20,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of C$46.00, for a total transaction of C$920,000.00. Following the transaction, 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 position. Corporate insiders own 19.35% of the company’s stock.

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.