First Quantum Minerals (FM.TO) Buy, Sell or…

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First Quantum Minerals (FM.TO)

40.02

-5.74 (12.54%)

as of Jun 5, 2026, 8:00:00 pm Market Open.

118 watching

Investor Insights

Jun 7, 2026, 12:00 am

This summary was created by AI, based on 5 opinions in the last 12 months.

First Quantum Minerals, symbol FM-T, is a prominent player in the copper market, which faces a critical shortage due to increasing demand from sectors like data centers. The company's outlook is influenced by the volatile nature of copper prices, which are heavily tied to global economic conditions. Despite having a significant copper mine that has been inactive for nearly three years, experts acknowledge the potential for First Quantum to capitalize on rising prices, particularly as the metal is essential in various industries. While some analysts consider it an interesting investment, they hesitate to deem it a leading choice in the copper space compared to other options. Overall, First Quantum is recognized for its substantial leverage to copper, making it a noteworthy candidate in the base metal sector, with a price target set at $37.25 by analysts.

Consensus

Mixed

Valuation

Fair Value

Similar

LUN,TSE

COMMENT

Looking at the mining sector, compared to all other sectors, it is one of the weaker ones. If itt got up to $70-$75, consider selling.

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DON'T BUY

Held up by political risk of being located in the Congo (DRC). Using free cash flow to diversify out of DRC, which is a longer-term prospect. Selling at a discount to NAV. If copper stabilizes at around $3 stock should rally and you might make 20%-30% on a bounce back. He would look at other things instead.

BUY

Copper is deeply over sold. Likes these stocks. It is possible that it is bottoming out. It is reaching a selling climax according to volume. Today’s volume is very positive for it bottoming out.

COMMENT

Model price is $144 but keep in mind, its assets are in Africa and the latest down spike is one of the African countries is going to take one of their mines away. Very volatile. Great fundamentals. If you are a trader, the bottom is around $53.80 and could have a big bounce up to $75 very easily.

TOP PICK

Copper and nickel. Sees good upside to copper going forward. Top tier in terms of quality of management, execution and low cost structure ($1 a lb.). Only risk is that it is in West Africa. Current dispute is into international arbitration and market is assuming it will get worked out.

BUY

Copper producer with assets are in West Africa (DRC) so you have to accept political risk. Government pulled a project as they were not moving fast enough on developing. Now in arbitration. Rumours that government is seeking another partner. Still one of the lowest cost emerging copper producers globally. Still buying because it is a $100 stock.

DON'T BUY

One of the best investments for exposure to copper but have now acquired Raventhorpe nickel property from BHP Billiton (BHP-N). This has watered down their exposure to copper somewhat but has also helped to alleviate concerns on one of their Congo mines. Very close to his target price.

DON'T BUY

They have issues with the mine permit in the Congo. They think this is a good risk. The company has been able to resolve permits a couple of times in the last two years. It has gone through their target price so they would not be buying it.

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COMMENT

Had an exciting and very strong uptrend from about $15-$75. If you own, definitely use a stoploss. 200-day moving average is around $45. The huge gap quite often means there is going to be a pullback towards the 200-day average. Currently starting to drift below the 50 day moving average. There is a major uptrend and that line should be your stoploss.

DON'T BUY

(Market Call Minute.) Very high-quality people but he is nervous about the price of copper. If the base metal prices fall as he expects, this would be a premium play on copper.

COMMENT

The Chinese are stockpiling copper. They will use it because the growth of the emerging middle class in China, India and Thailand will continue. This one is up 300% this year. Very volatile play. Congolese government could pose a risk.

COMMENT

There is some potential for consolidation here. Doesn't see a lot of weakness in it but if you think there is someplace else that is going to do pretty well you might want to consider switching. On the longer-term perspective that should do pretty well.

DON'T BUY

A little cautious on the whole mining sector right now. On this one, you have to believe on where copper prices are headed. There has to be more synchronized global growth in order to see copper prices go up much further. Fully valued.

DON'T BUY

Market doesn’t like these stocks. If the US$ keeps strengthening it is a risky venture trying to figure out where the bottom is. A lot of resource stocks have made a lot of money since 2002 but there's no reason they can't go a lot lower.

DON'T BUY

A rare animal. One of the modern times copper mines. Very little has gone into size production. Probably gets taken out later by someone who puts up with the country risk. He would prefer something in a safe country.

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First Quantum Minerals (FM.TO)