First Quantum Minerals (TSE:FM) Given New C$52.00 Price Target at Royal Bank Of Canada

First Quantum Minerals (TSE:FM) had its target price raised by investment analysts at Royal Bank Of Canada from C$45.00 to C$52.00 in a research note issued on Wednesday, BayStreet reports. Royal Bank Of Canada’s price target would indicate a potential upside of 22.96% from the company’s previous close.

FM has been the topic of a number of other reports. Stifel Nicolaus upped 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 report on Tuesday, July 21st. Scotiabank boosted their target price on First Quantum Minerals from C$48.00 to C$55.00 and gave the company a “sector outperform” rating in a research report on Monday, June 15th. Morgan Stanley decreased their price target on First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. TD Securities upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$46.34.

First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock traded up C$0.32 during trading hours on Wednesday, reaching C$42.29. The company’s stock had a trading volume of 603,432 shares, compared to its average volume of 2,914,774. The firm has a 50 day moving average price of C$42.31 and a 200-day moving average price of C$38.96. The company has a debt-to-equity ratio of 54.66, a current ratio of 1.90 and a quick ratio of 1.41. The stock has a market cap of C$35.28 billion, a P/E ratio of -469.89, a P/E/G ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a one year low of C$26.08 and a one year high of C$49.27.

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

Insider Activity

In other First Quantum Minerals news, Director Kathleen Applegate Hogenson bought 1,073 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the purchase, the director owned 62,240 shares in the company, 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.