First Quantum Minerals (TSE:FM) Price Target Raised to C$48.00

First Quantum Minerals (TSE:FM) had its target price hoisted by Scotiabank from C$44.00 to C$48.00 in a research report report published on Wednesday morning,BayStreet.CA reports.

A number of other equities analysts have also recently commented on FM. TD Securities lifted their price target on shares of First Quantum Minerals from C$41.00 to C$42.00 and gave the stock a “hold” rating in a research note on Thursday, February 12th. National Bank Financial lifted their price target on shares of First Quantum Minerals from C$42.50 to C$47.00 in a research note on Thursday, January 29th. Stifel Nicolaus lifted their price target on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Canaccord Genuity Group dropped their price target on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Scotia dropped their price target on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Moderate Buy” and an average target price of C$42.66.

First Quantum Minerals Stock Performance

First Quantum Minerals stock opened at C$34.84 on Wednesday. The company’s 50-day moving average price is C$34.59 and its 200-day moving average price is C$35.09. First Quantum Minerals has a twelve month low of C$19.25 and a twelve month high of C$45.17. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67. The company has a market cap of C$28.85 billion, a PE ratio of -145.17, a price-to-earnings-growth ratio of -1.28 and a beta of 1.49.

First Quantum Minerals (TSE:FM) last posted its earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The business had revenue of C$1.95 billion during the quarter. On average, equities research analysts forecast that First Quantum Minerals 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.