Raymond James Increases First Quantum Minerals (TSE:FM) Price Target to C$21.00

First Quantum Minerals (TSE:FM) had its target price raised by equities research analysts at Raymond James from C$19.00 to C$21.00 in a report issued on Thursday, BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 16.02% from the stock’s current price. Raymond James also issued estimates for First Quantum Minerals’ Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.60 EPS and Q4 2025 earnings at $0.61 EPS.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of First Quantum Minerals from C$12.00 to C$18.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Royal Bank of Canada raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$17.00 to C$18.00 in a research note on Monday, March 4th. Bank of America increased their target price on First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. National Bank Financial upgraded First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a research report on Thursday, February 29th. Finally, Eight Capital increased their target price on First Quantum Minerals from C$16.00 to C$17.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$17.25.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$18.10 on Thursday. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$39.13. The company’s 50 day moving average is C$16.42 and its 200 day moving average is C$13.90. The company has a current ratio of 2.68, a quick ratio of 1.41 and a debt-to-equity ratio of 52.05. The company has a market cap of C$15.09 billion, a PE ratio of -7.84, a price-to-earnings-growth ratio of -1.28 and a beta of 1.96.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.19) by C($0.08). The business had revenue of C$1.40 billion during the quarter, compared to analyst estimates of C$1.25 billion. First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. On average, sell-side analysts forecast that First Quantum Minerals will post 1.0067358 EPS for the current year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.