TSE:FM

First Quantum Minerals (FM.TO)

43.67
+1.67 (3.98%)
as of Aug 7, 2026, 8:00:00 pm Market Open.
118 watching
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Investor Insights
star iconAug 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, has received mixed reviews from analysts, reflecting its volatility and susceptibility to fluctuations in copper prices, which influences its performance. Despite a positive underlying trend, trading has been challenging due to significant price swings, commodity pricing, and political factors. Analysts note a long-term demand for copper, especially tied to data centers, which could serve as a tailwind for the company. However, with major mines experiencing prolonged shutdowns, concerns remain about the balance between supply and demand. While the stock experienced a strong year in 2025 and reached a new high in 2023 amidst favorable global economic conditions, the suspension of operations and reliance on copper pricing leads to caution amongst experts.

consensus icon
Consensus
Cautious
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Valuation
Fair Value
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Similar
LUN
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.
COMMENT
The model price is still positive at $130. This is an upside of 60%. He also has positive revisions scores, but he is seeing the commodity plays rolling over. Downside risk is $63.25 even though there is a lot of value there.
BUY
Has been whacked because of the selloff in base metals. Feels this will be a major producing mine, but if not, will be subdivided with individual parts sold off.
SELL
(Market Call Minute) One of your big mining companies and one of the best performers in the Canadian market in years, but it’s breaking down here. Sell until you see a rally coming back in.
TOP PICK
Pure copper play. Most of the operations are in Zambia and one in Mauritania. Also have a foothold in the Congo, a dangerous place. Because this is a big company, the Congo will make sure they are well protected.
HOLD
This is the premier mining company in the copper belt in Zambia. Expect the company will be sold at some point.
DON'T BUY
Management has done an unbelievable job. They have bought, developed and produced from many different mines and have many projects on the go. Not cheap. There is a rumour the company could be taken over. Prefers others that are cheaper.
SELL
106.3 positive differential Close to a sell.
HOLD
Cheap at 6 X earnings. Did a very good job growing production and has many opportunities to continue growing it. Clean balance sheet. Could see this being acquired. Doesn't like copper, but wouldn't sell it here.
SELL
Basically a copper, gold, zinc producer. Very uncertain about their earnings next year.
BUY
A great play on the whole base metals area. With Falconbridge and Inco being taken out, there aren't many companies left in this space. The Chinese demand for raw materials is going to make up for any US slowdown.
BUY
One of the best copper producers. Production is in Zambia and they have a toehold in the Congo. If any action is to take place in the Congo, they are well-placed to take full advantage of it. The Congo has one of the most prolific copper deposits in the world but has loads of political risks.
BUY
Good growth profile. Solid current production with potential upside from development and exploration.
WEAK BUY
Copper is a commodity that he really likes. Copper isn't tight now, but has potential to be really tight down the road. Looking at it, but it's slightly expensive. Dead centre of Africa which is a risk.
BUY
A bit riskier because of the African location, but would consider this a good copper play. Have some new projects coming on, so you can see some visible growth.
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