Canadian Imperial Bank of Commerce Cuts First Quantum Minerals (TSE:FM) Price Target to C$41.00

First Quantum Minerals (TSE:FM) had its price objective reduced by Canadian Imperial Bank of Commerce from C$44.00 to C$41.00 in a report released on Thursday morning,BayStreet.CA reports.

Several other equities analysts have also weighed in on the company. Morgan Stanley reduced their price objective on First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. Barclays boosted their target price on First Quantum Minerals from C$42.00 to C$46.00 in a research note on Thursday, July 16th. National Bank Financial upped their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price target for the stock from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. Finally, Stifel Nicolaus lifted their price objective on First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Moderate Buy” and an average target price of C$44.68.

First Quantum Minerals Stock Down 0.3%

First Quantum Minerals stock opened at C$38.86 on Thursday. First Quantum Minerals has a twelve month low of C$22.16 and a twelve month high of C$46.36. The firm has a 50 day moving average price of C$40.03 and a 200-day moving average price of C$37.75. The company has a market capitalization of C$32.42 billion, a P/E ratio of -431.78, a P/E/G 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 (TSE:FM) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. The company had revenue of C$2.16 billion for 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, equities analysts predict that First Quantum Minerals will post 0.55872 EPS for the current year.

Insiders Place Their Bets

In other news, insider Gavin Ashley sold 20,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the transaction, the insider directly owned 75,905 shares of the company’s stock, valued at C$3,491,630. This trade represents a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson purchased 1,073 shares of First Quantum Minerals 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 completion of the transaction, the director owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. This represents a 1.75% increase in their position. 19.35% of the stock is owned by company insiders.

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.