First Quantum Minerals (TSE:FM) Price Target Cut to C$41.00 by Analysts at Canadian Imperial Bank of Commerce

First Quantum Minerals (TSE:FM) had its price objective lowered by research analysts at Canadian Imperial Bank of Commerce from C$44.00 to C$41.00 in a research report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 6.05% from the company’s previous close.

Several other brokerages have also commented on FM. National Bank Financial upped their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Stifel Nicolaus lifted their price objective on First Quantum Minerals from C$52.00 to C$55.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and increased their target price for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. Morgan Stanley cut their price target on shares of First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. Finally, BMO Capital Markets lifted their price target on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$44.68.

First Quantum Minerals Trading Up 1.8%

Shares of TSE FM traded up C$0.69 during trading on Thursday, hitting C$38.66. 1,504,675 shares of the company traded hands, compared to its average volume of 3,062,828. First Quantum Minerals has a 1 year low of C$22.16 and a 1 year high of C$46.36. The company has a 50-day moving average price of C$39.93 and a 200-day moving average price of C$37.75. The firm has a market capitalization of C$32.02 billion, a P/E ratio of -161.08, 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 1.76 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, July 28th. The company reported C($0.19) 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 firm had revenue of C$2.16 billion during the quarter. On average, equities analysts predict that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Activity

In related news, Director Kathleen Applegate Hogenson acquired 1,073 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the transaction, the director directly owned 62,240 shares of the company’s stock, valued at C$2,335,867.20. This trade represents a 1.75% increase in their position. Also, insider Gavin Ashley sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 75,905 shares in the company, valued at approximately C$3,491,630. This represents a 20.85% decrease in their position. Company insiders own 19.35% of the company’s stock.

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.