First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Raymond James Financial Analyst Says

First Quantum Minerals (TSE:FM) had its price objective boosted by stock analysts at Raymond James Financial from C$45.00 to C$47.00 in a research note issued to investors on Friday, BayStreet reports. The firm presently has a “market perform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 5.33% from the stock’s previous close.

FM has been the subject of a number of other research reports. Morgan Stanley cut their price objective on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research note on Wednesday, July 8th. Canadian Imperial Bank of Commerce reduced their price objective on First Quantum Minerals from C$44.00 to C$41.00 in a research note on Thursday, July 30th. 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. Scotiabank raised their price target 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. Finally, TD Securities raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$45.68.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock traded down C$0.42 during trading hours on Friday, reaching C$44.62. The company had a trading volume of 356,679 shares, compared to its average volume of 2,950,458. The business has a fifty day simple moving average of C$41.39 and a 200 day simple moving average of C$38.60. The firm has a market cap of C$37.22 billion, a PE ratio of -495.78, a price-to-earnings-growth ratio of -1.28 and a beta of 1.38. The company has a debt-to-equity ratio of 54.66, a current ratio of 1.90 and a quick ratio of 1.41. First Quantum Minerals has a one year low of C$24.32 and a one year high of C$49.27.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C($0.19) earnings per share for the quarter. The company had revenue of C$2.16 billion for the quarter. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 0.73%. On average, analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathleen Applegate Hogenson purchased 1,073 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of C$37.53 per share, for a total transaction of C$40,269.69. Following the completion of the acquisition, the director directly 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. Also, insider Gavin Ashley sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider 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. Company insiders own 19.35% of the company’s stock.

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.