First Quantum Minerals (TSE:FM) Given a C$50.00 Price Target at National Bank Financial

First Quantum Minerals (TSE:FM) has been assigned a C$50.00 price target by research analysts at National Bank Financial in a research report issued on Monday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 11.26% from the company’s previous close.

FM has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and upped their target price for the stock from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. Raymond James Financial raised their price objective on First Quantum Minerals from C$45.00 to C$47.00 and gave the company a “market perform” rating in a report on Friday, September 4th. Canadian Imperial Bank of Commerce dropped their target price on First Quantum Minerals from C$44.00 to C$41.00 in a research report on Thursday, July 30th. Stifel Nicolaus upped their target price on First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley reduced their price target on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$46.34.

First Quantum Minerals Price Performance

Shares of FM stock traded up C$1.37 during trading on Monday, hitting C$44.94. The company had a trading volume of 1,061,388 shares, compared to its average volume of 2,913,293. The stock’s 50-day moving average is C$42.59 and its two-hundred day moving average is C$39.01. The stock has a market capitalization of C$37.49 billion, a price-to-earnings ratio of -499.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 54.66. First Quantum Minerals has a 52 week low of C$27.05 and a 52 week high of C$49.27.

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

Insider Activity at First Quantum Minerals

In related news, Director Kathleen Applegate Hogenson bought 1,073 shares of the stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the purchase, the director owned 62,240 shares in the company, valued at approximately C$2,335,867.20. The trade was a 1.75% increase 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.