First Quantum Minerals (TSE:FM) Price Target Cut to C$45.20 by Analysts at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price target lowered by equities research analysts at Morgan Stanley from C$46.30 to C$45.20 in a research note issued on Wednesday,BayStreet.CA reports. Morgan Stanley’s price target points to a potential upside of 24.21% from the company’s current price.

Other analysts have also recently issued reports about the stock. Canaccord Genuity Group decreased their target price on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Scotia decreased their price objective on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price objective for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. BMO Capital Markets boosted their target price on First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and raised their price target for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$44.41.

First Quantum Minerals Price Performance

TSE:FM traded down C$0.25 during trading hours on Wednesday, reaching C$36.39. The stock had a trading volume of 1,503,454 shares, compared to its average volume of 3,084,809. The stock has a market capitalization of C$30.14 billion, a PE ratio of -151.62, a PEG ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a 52 week low of C$22.16 and a 52 week high of C$46.36. The company has a 50 day moving average price of C$38.78 and a two-hundred day moving average price of C$37.60. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76.

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 net margin of 3.69% and a negative return on equity of 1.78%. The business had revenue of C$1.95 billion during the quarter. As a group, sell-side analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Activity at First Quantum Minerals

In other news, Director Kathleen Applegate Hogenson acquired 1,073 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost 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 of the company’s stock, valued at 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 dated 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 sale, the insider directly owned 75,905 shares of the company’s stock, valued at approximately C$3,491,630. This trade represents a 20.85% decrease in their ownership of the stock. 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.