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

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First Quantum Minerals (FM.TO)

42.91

+0.91 (2.17%)

as of Aug 7, 2026, 4:39:05 pm Market Open.

118 watching

Investor Insights

Aug 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

Cautious

Valuation

Fair Value

Similar

LUN

TOP PICK

Looking at the last 10 years or so of its projects, it has brought in its projects on time and on budget with just on average a 7% increase in budget which is unheard of in mining. Do most of the work in-house which is why they are able to keep costs under control. If they acquire Inmet (IMN-T), which he thinks they have a very good chance of, they’ll be a top 10 producer and, widely speculated, a takeover candidate itself and would go for $30 or more. P/E ratio 6.2%. EPS $3.49. Yield of 0.56%.

BUY

Mid November until May is seasonal strength. It moved above 20 day moving average this past Friday. You have all the ingredients for this to show a nice move. The possible takeover of Inmet could have an impact and you might want to buy that one. A good play right now.

PAST TOP PICK

(Top Pick Dec 15/11, Up 23.61%) Continues to hold because Copper remains strong. One of the lowest cost producers out there.

COMMENT

Copper is in a trading band of roughly $3.25-$3.75. This company ranks 217 in his model, which is just in the top 3^rd. He prefers gold and silver in the metals area.

TOP PICK

Will have resistance around the $24 range. Great risk/reward.

TOP PICK

Have quite a few operations in Africa as well as Australia. Zambia operations are doing extremely well and is one of the largest copper producers. Australian operation is a nickel project and sees their production doubling in the next little while. Low operating costs of $1.55 per pound so he can see the company doing well. Excellent management team.

BUY ON WEAKNESS

One of the best management teams in the material space. Brought on Ravenscourt, a nickel project in Australia and are getting 35,000 tons from that. Thinks it is ultimately going to be a takeover candidate at some point. If you can get it under $20 it is a scream.

PAST TOP PICK

(Top Pick Sep 30/11, Up 39.02%) Had a couple of tough quarters but fine now. Long term it is probably trading at a reasonable multiple. Is a high growth company and should be able to grow at 50% over the next 5 years.

PAST TOP PICK

(Top Pick Dec 15/11, Up 8.61%) A good return for a copper producer. Would still add, since it is stakeout range. 50% growth profile.

DON'T BUY

Has it as an out perform. In copper and base metals, which is a sector he has a problem with – Chinese economy. Prefers pipelines and other sectors, especially TCK.B-T

COMMENT

Not the cheapest metal stock out there and with Ravensthorpe, you’ve got more of a play on to the nickel side so you have to be a little bit more comfortable where it would traditionally be more of a player on copper. On a valuation basis it is relatively cheap and they have new projects coming on. Still have some political issues outstanding in the DRC and other places in Africa. He is not as bullish on nickel as he is on copper

BUY

Likes this company.

TOP PICK

Proven mine developers. Their technical team went into a nickel project in Australia and proved they could bring it in on time and on budget. They're doing this with all their copper projects and in 5 years will triple copper production. Could be a takeout target. Ultimately worth $26-$27.

DON'T BUY

Has a small short position in this one and lost some money because of takeover rumours. He doesn't like the base metals. Prefers gold and silver.

COMMENT

Doesn't follow this one but he does like uranium. One of the issues that a lot of people are not talking about is that there are a lot of nuclear plants being built in the developing world. It is the most efficient electrical energy that you can develop.

Showing 121 to 135 of 184 entries

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First Quantum Minerals (FM.TO)