Morgan Stanley Lowers First Quantum Minerals (TSE:FM) Price Target to C$37.70

First Quantum Minerals (TSE:FM) had its target price decreased by analysts at Morgan Stanley from C$40.00 to C$37.70 in a research report issued on Thursday,BayStreet.CA reports. Morgan Stanley’s price target would indicate a potential upside of 0.45% from the company’s current price.

Several other equities analysts have also recently weighed in on FM. Canadian Imperial Bank of Commerce increased their price objective on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research note on Wednesday, February 4th. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their target price for the stock from C$38.00 to C$50.00 in a report on Thursday, March 12th. National Bank Financial increased their target price on shares of First Quantum Minerals from C$42.50 to C$47.00 in a report on Thursday, January 29th. Barclays reduced their target price on shares of First Quantum Minerals from C$44.20 to C$42.90 in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered shares of First Quantum Minerals from an “overweight” rating to an “underperform” rating and reduced their target price for the stock from C$48.00 to C$28.00 in a report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$40.91.

First Quantum Minerals Stock Performance

Shares of TSE:FM traded down C$0.04 during trading on Thursday, hitting C$37.53. The company’s stock had a trading volume of 827,407 shares, compared to its average volume of 2,877,273. The company has a 50-day moving average of C$35.61 and a 200-day moving average of C$34.14. First Quantum Minerals has a 12 month low of C$15.12 and a 12 month high of C$45.17. The company has a debt-to-equity ratio of 52.92, a current ratio of 1.42 and a quick ratio of 1.41. The firm has a market cap of C$31.08 billion, a price-to-earnings ratio of -1,251.00, a P/E/G ratio of -1.28 and a beta of 1.50.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, February 10th. The company reported C$0.01 earnings per share for the quarter. First Quantum Minerals had a negative net margin of 0.52% and a negative return on equity of 0.24%. The firm had revenue of C$1.95 billion for the quarter. On average, sell-side analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current 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.