First Quantum Minerals (TSE:FM) Sets New 12-Month High on Analyst Upgrade

First Quantum Minerals Ltd. (TSE:FM)’s share price reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$48.00 to C$55.00. Scotiabank currently has a sector outperform rating on the stock. First Quantum Minerals traded as high as C$46.36 and last traded at C$45.53, with a volume of 300390 shares traded. The stock had previously closed at C$43.39.

A number of other analysts have also weighed in on FM. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$38.00 to C$50.00 in a research report on Thursday, March 12th. BMO Capital Markets increased their price objective on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. Finally, Canaccord Genuity Group reduced their price objective on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$44.24.

First Quantum Minerals Trading Down 1.2%

The firm has a market capitalization of C$37.37 billion, a PE ratio of -188.00, a price-to-earnings-growth ratio of -1.28 and a beta of 1.36. The stock’s 50-day moving average price is C$38.28 and its 200 day moving average price is C$36.89. 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 (TSE:FM) last issued its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The company had revenue of C$1.95 billion for the quarter. On average, sell-side analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal 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.