First Quantum Minerals (FM) AI Stock Analysis

• Market Cap: C$18.74B
• Dividend Yield: N/A
• Average Volume (3M): 2.01M
• Price to Earnings (P/E): 98.6
• Beta (1Y): 1.27
• Revenue Growth: -13.79%
• EPS Growth: N/A
• Country: CA
• Employees: 20,000
• Sector: Basic Materials
• Sector Strength: 63
• Industry: Copper
• EPS (TTM): 0.00
• Shares Outstanding: 834,206,100
• 10 Day Avg. Volume: 2,058,824
• 30 Day Avg. Volume: 2,010,817
• PEG Ratio: 0.58
• Price to Book (P/B): 1.32
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 12.37
• Enterprise Value/Market Cap: 1.07
• Enterprise Value/Revenue: 1.00
• Enterprise Value/Gross Profit: 13.18
• Enterprise Value/Ebitda: 4.44
• 1Y Price Target: C$22.40
• Price Target Upside: -0.30% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15

• Rating: 64 Neutral
• Price Target: C$23.50 ▲(4.58%Upside)

First Quantum Minerals' overall score reflects a combination of technical strength and strategic financial actions, counterbalanced by high valuation concerns and operational challenges. While the company shows potential through its strategic initiatives, its financial leverage and liquidity issues remain significant risks.

Positive Factors

Financial Performance

First Quantum reported EBITDA that surpassed expectations due to higher copper sales volumes.

Operational Outlook

Zambia's Kansanshi S3 expansion is progressing well, driving production growth at lower costs.

Strategic Agreements

A new $500 million copper prepayment deal with Jiangxi enhances the company's financial position.

Negative Factors

Cost Management

Copper C1 unit cost guidance for upcoming years has been raised, reflecting increased costs and capital expenditures.

Debt Levels

Net debt has increased, but hedging strategies aim to mitigate risks associated with copper price fluctuations.

Production Guidance

Future production guidance has been reduced for Zambian mines, indicating a more cautious outlook.

First Quantum Minerals Business Overview & Revenue Model

Company Description

First Quantum Minerals Ltd. (FM) is a Canadian-based mining and metals company primarily engaged in the exploration, development, and production of mineral properties. The company is a major global copper producer, with additional operations in nickel, gold, and zinc. First Quantum Minerals operates mines and development projects in various countries, including Zambia, Panama, Finland, Turkey, Spain, and Australia, focusing on sustainable and responsible mining practices.

How the Company Makes Money

First Quantum Minerals generates revenue primarily through the extraction and sale of copper, which is its largest revenue stream. The company operates several large-scale mining projects, including the Kansanshi mine in Zambia and the Cobre Panama mine in Panama, which contribute significantly to its copper output. In addition to copper, First Quantum also earns revenue from the mining of nickel, gold, and zinc. The company's revenue is influenced by global commodity prices, production volumes, and operational efficiencies. Strategic partnerships and joint ventures, such as collaborations with local governments and other mining companies, play a crucial role in expanding its mining operations and accessing new markets. First Quantum's focus on cost management and technological innovation further enhances its profitability and competitive position in the global mining industry.

First Quantum Minerals Financial Statement Overview

Summary

First Quantum Minerals shows resilience amidst fluctuating performance metrics. Revenue and operating margins are recovering, while leverage remains a concern with moderate profitability. Cash flow management requires attention, especially in enhancing free cash flow. Overall, the company is on a recovery path but must address leverage and profitability challenges to sustain long-term growth.

Income Statement

First Quantum Minerals shows a mixed income statement with signs of recovery. The TTM revenue increased slightly to $4.956 billion from $4.802 billion annually, indicating a modest growth trajectory. Gross profit margin for TTM stands at 30.76%, showing profitability, but net profit margin is low at 2.78%, indicating issues in translating sales to profit. EBIT and EBITDA margins are solid at 20.27% and 37.68% respectively, suggesting effective core operations despite a previous year of significant net loss.

Balance Sheet

The balance sheet presents a stable financial position with total assets at $24.18 billion. Debt-to-equity ratio remains high at 0.58, reflecting significant leverage, which is a potential risk. However, ROE at 1.22% for TTM is low, indicating limited efficiency in using equity to generate profit. The equity ratio of 46.91% shows a balanced capital structure but suggests room for improving equity utilization.

Cash Flow

First Quantum Minerals displays varied cash flow results with a TTM operating cash flow of $1.383 billion. Free cash flow has decreased significantly to $119 million in TTM from $365 million annually, indicating cash management challenges. The operating cash flow to net income ratio is robust at 10.02, reflecting strong cash generation relative to net income, but the free cash flow to net income ratio is low at 0.86, highlighting pressures on liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.96B	4.80B	6.46B	7.63B	7.21B	5.20B
Gross Profit	1.52B	1.35B	1.29B	2.20B	2.56B	1.08B
EBITDA	1.87B	1.59B	1.28B	3.28B	3.73B	1.98B
Net Income	138.00M	2.00M	-954.00M	1.03B	832.00M	-224.00M
Balance Sheet
Total Assets	24.18B	24.11B	23.76B	25.08B	25.27B	24.24B
Cash, Cash Equivalents and Short-Term Investments	751.00M	843.00M	1.16B	1.69B	1.86B	950.00M
Total Debt	6.54B	6.37B	7.58B	7.38B	7.91B	8.36B
Total Liabilities	12.45B	12.21B	12.98B	12.84B	13.78B	14.20B
Stockholders Equity	11.34B	11.47B	10.25B	10.90B	10.02B	8.87B
Cash Flow
Free Cash Flow	119.00M	365.00M	127.00M	1.17B	1.89B	1.00B
Operating Cash Flow	1.38B	1.65B	1.43B	2.33B	2.88B	1.61B
Investing Cash Flow	-1.29B	-1.29B	-1.38B	-1.17B	-1.10B	-673.00M
Financing Cash Flow	-60.00M	-501.00M	-776.00M	-1.33B	-841.00M	-543.00M

First Quantum Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.47
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FM, the sentiment is Positive. The current price of 22.47 is above the 20-day moving average (MA) of 21.33, above the 50-day MA of 19.92, and above the 200-day MA of 19.02, indicating a bullish trend. The MACD of 0.57 indicates Negative momentum. The RSI at 68.85 is Neutral, neither overbought nor oversold. The STOCH value of 87.18 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FM.

First Quantum Minerals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LUN	75 Outperform	$11.91B	25.63	2.66%	3.31%	-8.36%	-200.42%
HBM	71 Outperform	$5.32B	24.31	6.50%	0.15%	10.69%	79.56%
FM	64 Neutral	C$18.74B	98.60	1.22%	―	-13.79%	―
ERO	64 Neutral	$2.25B	76.67	2.54%	―	16.82%	-67.73%
CS	64 Neutral	$6.00B	53.46	2.71%	―	37.30%	―
Sector *	62 Neutral	$9.80B	9.36	-1.52%	3.00%	2.18%	-34.96%
TKO	62 Neutral	$1.27B	11.15	-12.40%	―	7.36%	-159.52%

First Quantum Minerals Corporate Events

First Quantum to Announce Q2 2025 Results

First Quantum Minerals Ltd. announced that it will release its second quarter 2025 financial and operating results on July 23, 2025, after the Toronto Stock Exchange closes. The company will also host a conference call and webcast on July 24, 2025, to discuss these results, which could provide insights into its operational performance and market positioning.

The most recent analyst rating on (TSE:FM) stock is a Buy with a C$22.00 price target. To see the full list of analyst forecasts on First Quantum Minerals stock, see the TSE:FM Stock Forecast page.

First Quantum Minerals Reports Fatality at Trident Operation

First Quantum Minerals Ltd. announced a fatal incident at its Trident operation, where an employee died following an accident involving a dump truck at the Sentinel pit. The company has notified local authorities and is conducting an internal investigation, while operations in the affected area have been temporarily suspended. CEO Tristan Pascall expressed condolences to the family and emphasized the company’s commitment to safety and support for those impacted.

The most recent analyst rating on (TSE:FM) stock is a Buy with a C$22.00 price target. To see the full list of analyst forecasts on First Quantum Minerals stock, see the TSE:FM Stock Forecast page.

First Quantum Secures Approval for Cobre Panamá Management Program

First Quantum Minerals Ltd. announced that its subsidiary, Minera Panamá S.A., received approval from the Government of Panama for the Preservation and Safe Management program at the Cobre Panamá mine. This approval will enable the company to fund preservation activities through the export of 121,000 dry metric tonnes of copper concentrate. The company emphasizes its commitment to sustainability, local procurement, and maintaining transparent dialogue with stakeholders, which could enhance its operational stability and industry positioning.

The most recent analyst rating on (TSE:FM) stock is a Buy with a C$22.00 price target. To see the full list of analyst forecasts on First Quantum Minerals stock, see the TSE:FM Stock Forecast page.

First Quantum Minerals Releases 2024 Sustainability Reports Amidst Operational Challenges

First Quantum Minerals has released its 2024 sustainability reports, highlighting its commitment to environmental and community responsibilities despite challenges in Panama and Zambia. The company aims to reduce its greenhouse gas emissions by 50% by 2035, although current geopolitical and environmental conditions have impacted its decarbonization timeline. In 2024, First Quantum contributed over $3.5 billion economically to its host countries, emphasizing its role in supporting local economies through substantial tax payments, wages, and community investments.

The most recent analyst rating on (TSE:FM) stock is a Buy with a C$25.00 price target. To see the full list of analyst forecasts on First Quantum Minerals stock, see the TSE:FM Stock Forecast page.

First Quantum Minerals Announces Successful Election of Directors

First Quantum Minerals Ltd. announced the successful election of its board of directors during the 2024 Annual Meeting of Shareholders, with 85.72% of issued shares voted. The election results indicate strong shareholder support, with most directors receiving over 85% of votes cast in their favor, reflecting confidence in the company’s leadership and strategic direction.

First Quantum Minerals Reports Q1 2025 Loss Amid Strategic Expansion Efforts

First Quantum Minerals reported a net loss of $23 million for Q1 2025, with adjusted earnings of $2 million. The company is progressing with the Kansanshi S3 Expansion project, which is expected to boost production in the latter half of 2025. In Panama, First Quantum has suspended arbitration proceedings and is working towards a resolution regarding the Cobre Panamá mine. The company has strengthened its financial position with a $750 million notes offering and additional prepayment agreements, despite facing lower sales volumes and increased cash costs for copper production.

First Quantum Minerals Suspends Arbitration Proceedings in Panama

First Quantum Minerals Ltd. has decided to discontinue its arbitration proceedings with the International Chamber of Commerce and suspend the arbitration under the Canada-Panama Free Trade Agreement regarding the Cobre Panamá mine. This decision follows discussions with the Government of Panama, indicating the company’s commitment to resolving disputes through dialogue and cooperation, which could positively impact its operations and relationships in Panama.

First Quantum Minerals Announces Online AGM and Releases 2024 Annual Report

First Quantum Minerals Ltd. has announced that its Annual General Meeting of shareholders will be held online on May 8, 2025. The company has also made available its 2024 Annual Report, which includes audited financial statements and other key documents, through its website. This announcement ensures transparency and accessibility for stakeholders, reinforcing First Quantum’s commitment to maintaining robust investor relations.

First Quantum Minerals to Announce Q1 2025 Results

First Quantum Minerals Ltd. has announced that it will release its first quarter 2025 financial and operating results on April 23, 2025. The company will hold a conference call and webcast on April 24, 2025, to discuss these results, which could provide insights into its operational performance and market strategy, potentially impacting stakeholders’ perspectives.