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StockVS

TSX · Copper · CAD

First Quantum Minerals Ltd. (FM.TO) Stock Analysis

First Quantum Minerals Ltd. (FM.TO) is a Copper stock listed on TSX and quoted in Canadian Dollar.

FM.TO

CA$44.58

−CA$0.46 (−1.02%)

Sep 4, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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FM.TO Key Statistics

As of Sep 4, 2026
Trading
Open
CA$44.48
Previous Close
CA$45.04
Day's Range
44.23–45.10
52-Week Range
24.49–49.27
Volume
809.40K
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
2.03
Valuation
Market Cap
CA$37.19B
P/E Ratio
unprofitable
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
16.04
PEG RatioThe P/E ratio divided by the expected earnings growth rate. It puts a high P/E in the context of how fast profits are growing.
0.96
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
6.47
EPS (ttm)Profit attributable to each share over the last twelve months.
−0.12
Financials (FY)
Revenue (FY)
CA$5.24B+9.06%
Net Income (FY)
−CA$28.00M−1500.00%
Profit marginThe share of revenue left as profit after all costs and taxes.
−1.44%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
834.21M
1-Year Return
+83.53%
Dividend and dates
Earnings Date
October 27, 2026
Avg Volume
2.73M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

FM.TO Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)+21.14%
2025+98.60%
2024+70.78%
2023−61.41%
2022−5.96%
2021+32.52%
2020+73.68%
2019+19.40%
2018−37.27%
2017+32.00%
2016 (partial year)+12.04%

As of September 4, 2026.

FM.TO Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025CA$5.24B−CA$28.00M−0.5%
2024CA$4.80BCA$2.00M0.0%
2023CA$6.46B−CA$954.00M−14.8%
2022CA$7.63BCA$1.03B13.6%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025CA$5.24BCA$1.46BCA$1.09B−CA$28.00M−0.5%
2024CA$4.80BCA$1.35BCA$1.03BCA$2.00M0.0%
2023CA$6.46BCA$1.29BCA$1.15B−CA$954.00M−14.8%
2022CA$7.63BCA$2.20BCA$1.85BCA$1.03B13.6%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

FM.TO Valuation vs Copper Median

Median of 18 stocks
MetricFM.TOCopper medianvs median
P/S ratio6.474.3449% above
Profit margin−1.44%6.49%7.9 pts below

Medians across 18 Copper stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Analysis

Data-derived

Company Overview

First Quantum Minerals Ltd. (FM.TO) is capitalised at CA$37.19B on the latest close. It is classified in the Copper industry, within the Basic Materials sector. Headcount on file is 15,661.

Over the past 52 weeks the price has ranged from CA$24.49 to CA$49.27. FM.TO last closed at CA$44.58 on September 4, 2026. That is −CA$0.46 (−1.02%) against the previous close. The latest close sits 82.03% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of CA$5.24B. Against the prior fiscal year total of CA$4.80B, that is a change of +9.06%. The same year closed with a net loss of CA$28.00M. Profit margin runs at −1.44%. That is 7.9 percentage points below the Copper median of 6.49%. Trailing earnings per share are −0.12.

Across the 4 fiscal years on file, revenue moves from CA$7.63B in 2022 to CA$5.24B in 2025. Of those 4 years, 2 report positive net income.

Valuation Assessment

No trailing P/E applies: the last reported earnings figure is negative. On forward earnings the ratio is 16.04. The PEG ratio, which sets the P/E against expected earnings growth, reads 0.96. Measured against sales, the shares trade at 6.47 times revenue. On price-to-sales that is 49.01% above the Copper median of 4.34. The medians here are taken across 18 Copper companies that report the metric.

The reported beta is 2.03. Annualized volatility over the trailing 10 years is 60.01%. The trailing one-year price return is +83.53%. Across 10 years the annualized return works out at +16.12%.

Growth & Income

No dividend is on file for FM.TO.

So far in 2026 the price is +21.14%. Across the complete calendar years on file, 2025 returned +98.60% and 2023 returned −61.41%. Of the 9 complete calendar years on file, 6 finished higher.

Peer Comparison

First Quantum Minerals Ltd. (FM.TO) operates in the Copper industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
First Quantum Minerals Ltd. FM.TO CA$37.19B —
Southern Copper Corporation SCCO CA$167.82B 29.9
Freeport-McMoRan Inc. FCX CA$104.44B 35.6
Teck Resources Limited TECK CA$33.90B 18.9

The Copper industry average P/E ratio is 17.3x. First Quantum Minerals Ltd. has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About First Quantum Minerals Ltd.

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, gold, nickel, silver, and zinc products. Its flagship project is the 100% owned Kansanshi project located in the northwestern Province of Zambia. The company was formerly known as First Quantum Ventures Ltd. and changed its name to First Quantum Minerals Ltd. in July 1996. The company was incorporated in 1983 and is based in Vancouver, Canada.

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