First Quantum Minerals (TSE:FM) Given New C$55.00 Price Target at Scotiabank

First Quantum Minerals (TSE:FM) had its target price upped by equities researchers at Scotiabank from C$48.00 to C$55.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 20.91% from the company’s current price.

FM has been the subject of several other research reports. Barclays lowered their price target on First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. BMO Capital Markets lifted their price target on First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. raised First Quantum Minerals from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. Scotia lowered their price target on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. 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, First Quantum Minerals currently has an average rating of “Moderate Buy” and a consensus price target of C$44.24.

First Quantum Minerals Trading Up 4.8%

TSE:FM traded up C$2.10 during trading hours on Monday, hitting C$45.49. The company had a trading volume of 1,944,783 shares, compared to its average volume of 3,064,457. The company has a market capitalization of C$37.67 billion, a PE ratio of -189.54, a price-to-earnings-growth ratio of -1.28 and a beta of 1.36. The stock has a 50-day moving average price of C$37.85 and a 200 day moving average price of C$36.67. First Quantum Minerals has a 52 week low of C$21.02 and a 52 week high of C$46.36. 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 released its quarterly earnings results 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 during the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. On average, equities research analysts predict that First Quantum Minerals will post 0.55872 EPS 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.