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First Quantum Minerals ( (TSE:FM) ) has issued an update.
First Quantum Minerals reported preliminary 2025 production of 396,000 tonnes of copper, in line with revised guidance, alongside higher year-on-year gold output of 152,000 ounces and nickel production of 23,200 tonnes, supported by the under‑budget completion and ramp-up of the Kansanshi S3 expansion in Zambia. Looking ahead to 2026–2028, the company slightly reduced copper and gold production guidance for 2026 and 2027 due to maintenance and ore-grade issues at Sentinel and Kansanshi, raised cost guidance and 2026 capital spending following deferrals from 2025, and highlighted a potential environmental and operational de-risking at Cobre Panamá as the Panamanian government moves toward authorizing the processing of low-grade ore stockpiles, which is expected to create jobs and manage tailings and drainage risks while the mine remains formally closed.
The most recent analyst rating on (TSE:FM) stock is a Buy with a C$46.00 price target. To see the full list of analyst forecasts on First Quantum Minerals stock, see the TSE:FM Stock Forecast page.
Spark’s Take on TSE:FM Stock
According to Spark, TipRanks’ AI Analyst, TSE:FM is a Outperform.
First Quantum Minerals’ stock is supported by strong technical momentum and robust financial performance, particularly in cash flow generation. However, high valuation metrics and operational challenges in Panama and Sentinel present risks. The positive earnings call sentiment and production achievements contribute to a favorable outlook, but the high P/E ratio suggests caution.
To see Spark’s full report on TSE:FM stock, click here.
More about First Quantum Minerals
First Quantum Minerals Ltd. is a Canada-based global mining company focused primarily on the production of copper, with additional output of gold and nickel. The company operates large-scale open-pit and processing operations, particularly in Zambia, and has a portfolio of development and operating assets including the Kansanshi and Sentinel mines, as well as the Cobre Panamá mine and the Taca Taca project, positioning it as a significant player in the base metals sector.
Average Trading Volume: 2,058,650
Technical Sentiment Signal: Buy
Current Market Cap: C$34.49B
Find detailed analytics on FM stock on TipRanks’ Stock Analysis page.