First Quantum Minerals stock
FM.TOTSXFirst Quantum Minerals Ltd., Basic MaterialsISIN CA3359341052
40Score 40 out of 100, Weak
Price and trend
58 / 100
Price history
+15% in one yearThe chart shows daily closes over 20 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Below the 200-day line: the price is 11% below it.
Since June 2024 the 50-day line has been above the 200-day line; the trend has turned up.
Normal: the price is neither overheated nor sold off (RSI 51).
The price is 30% below its 52-week high. Largest decline in 20 years: 91% (July 2011 to January 2016).
Chart figures for advanced users
- SMA 50$27.63
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$27.18
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)51
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDabove the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$19.54
- The lowest closing price of the last twelve months.
- Resistance$34.21
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- First Quantum Minerals Ltd. belongs to the Copper industry (Canada) and, with a market value of $20.11B, is number 4 of 15 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $5.24B (up 9.1% year on year) and a loss of $28M.
- MEQIRI Score 40 out of 100 (Weak): rank 399 of 467 in Basic Materials, median 58.
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- The P/E is 116.9 (Basic Materials sector median 15.5, own median of recent years 13.9).
- Our model puts fair value at $49.42, with the price 51% below it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
- Analysts expect strong earnings growthUp 94.9% a year through 2028 (estimates from 14 analysts).
Weaknesses
- Richly valuedP/E 116.9, Basic Materials sector median 15.5, own median 13.9.Valuation 60
- DilutionShare count up 21% since 2020.Capital allocation 21
- Negative free cash flowFree cash flow −$107M over the last 12 months.Fundamentals 26
The score is held back by fundamentals and capital allocation.
Daily figure as of 12 Nov 2026
How the score is calculatedScore overview
Fundamental quality fluctuates.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk not measured
How well MEQIRI warnsFor stocks from Japan, China, Hong Kong, Taiwan, Korea, Canada, India and Brazil we only show crash risk once a separate backtest shows that it warns as well there as in the US and Europe.
Valuation
Valuation signal
Possible value trapIn our model the price counts as cheap below $35.30 and expensive above $82.37 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $95.64 (cash-flow model) and $3.20 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 8.8%. At 9.8% the fair value would be $40.65, at 7.8% it would be $62.65.
Possible value trap: looks cheap, but score below 50, weak balance sheet.
Valuation metrics
Half from the cash-flow model, half from earnings times the sector P/E (15.5).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue rose 29.7% on the twelve months before. Revenue has grown solidly since 2006, at about 8% per year.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 28%, operating 18%, net −1%.
Debt & balance sheet
latest quarterDebt is moderate, but interest coverage is weak. Keep an eye on the interest burden and refinancing.
Earnings
- Next earnings
- 16 Feb 2027in 96 days
- Last reported
- 28 Oct 2026EPS reported 0.41 (expected 0.25)above expectations
Analyst estimates
Analysts have cut their 2027 earnings estimate by 4.4% since 26 Oct 2026. Falling estimates often precede bad news.
- Earnings per share
- 0.34+22.4%
- Revenue
- $6.79B+2.5%
- Earnings per share
- 1.82−4.4%
- Revenue
- $8.97B−0.3%
MEQIRI has stored the estimates since 26 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook lowered
Share price after the results: −9.2%First Quantum lowered 2026 copper and gold production guidance for Kansanshi, raised cost guidance (C1 to $2.50 to $2.65 per pound, all-in sustaining cost to $4.10 to $4.25 per pound) due to higher fuel prices, a stronger kwacha and higher royalties, and warned these pressures will continue into …
“We've updated our copper C1 guidance to $2.50 to $2.65 per pound, incorporating the previously provided sensitivity of $0.25 due to elevated fuel prices and a stronger Zambian kwacha. These inflationary pressures are expected to continue to impact our cost base into the new year.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 29 Oct 2026 (fiscal Q3 2026), read by AI.
What happened at First Quantum Minerals
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
467 rated companies in Basic Materials
- This company
- 40
- Sector median
- 58
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Copper
The next larger and next smaller companies by market value
- Southern CopperSCCO $147.29B76
- Freeport-McMoRanFCX $89.3B66
- Teck ResourcesTECK $30.78B66
- Lundin MiningLUN.TO $18.37B71
- Jiangxi Copper600362.SS $17.05B54
- KGHM Polska MiedzKGH.WA $14.55B65
- Tongling Nonferrous Metals Group000630.SZ $9.95B54
- Hudbay MineralsHBM $9.74B61
ETFs that hold First Quantum Minerals
Held by 51 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| Global X Copper Miners UCITS ETF4COP | 4.82% | 0.55% | €909.23M |
| WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD AccRARE | 1.11% | 0.50% | €604M |
| VanEck S&P Global Mining UCITS ETF A USDWMIN | 0.83% | 0.50% | €1.98B |
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| Xtrackers MSCI Canada Screened UCITS ETF 1CD5BH | 0.64% | 0.35% | €1.2B |
| Xtrackers MSCI World Materials UCITS ETF 1CXDWM | 0.56% | 0.25% | €715.95M |
| UBS MSCI Canada UCITS ETF CAD disUIM9 | 0.52% | 0.33% | €2.06B |
| iShares MSCI Canada UCITS ETFSXR2 | 0.51% | 0.48% | €2.15B |
| JPM Global Equity Multi-Factor UCITS ETF USD AccJPGL | 0.18% | 0.19% | €278.91M |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 11 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 11 Nov 2026 ($1 = CA$1.4235)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 30 Apr 2024)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.