First Quantum Minerals (TSE:FM) Given New C$48.00 Price Target at Scotiabank

First Quantum Minerals (TSE:FM) had its target price lifted by equities research analysts at Scotiabank from C$44.00 to C$48.00 in a report released on Wednesday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 29.59% from the company’s current price.

FM has been the subject of several other research reports. National Bank Financial boosted their price objective on shares of First Quantum Minerals from C$42.50 to C$47.00 in a research report on Thursday, January 29th. Desjardins upped their price target on shares of First Quantum Minerals from C$34.00 to C$40.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Barclays reduced their price target on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce upped their price target on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus upped their price target on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals has a consensus rating of “Moderate Buy” and a consensus price target of C$42.66.

First Quantum Minerals Stock Up 2.9%

Shares of TSE:FM traded up C$1.04 during trading on Wednesday, hitting C$37.04. 2,237,633 shares of the company were exchanged, compared to its average volume of 2,979,938. The stock has a market capitalization of C$30.68 billion, a P/E ratio of -154.33, a PEG ratio of -1.28 and a beta of 1.49. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. First Quantum Minerals has a 12-month low of C$19.25 and a 12-month high of C$45.17. The firm’s 50 day moving average price is C$34.70 and its 200-day moving average price is C$34.99.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) earnings per share 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 predict that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

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.