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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.

Last Updated: October 21, 2026

FM.TO

CA$35.97

−CA$0.20 (−0.55%)

Oct 21, 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 Oct 21, 2026
Trading
Open
CA$36.32
Previous Close
CA$36.17
Day's Range
35.51–36.59
52-Week Range
27.06–49.27
Volume
1.71M
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.
2.06
Valuation
Market Cap
CA$30.01B
P/E Ratio
unprofitable
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
12.90
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.
5.22
EPS (ttm)Profit attributable to each share over the last twelve months.
−0.14
Financials (FY)
Revenue (FY)
CA$5.24B+9.06%
Net Income (FY)
−CA$28.00M−1,500.00%
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
+20.62%
Dividend and dates
Earnings Date
October 28, 2026
Avg Volume
2.59M

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

Key facts

As of October 21, 2026, FM.TO closed at CA$35.97, +20.62% over 1 year.

First Quantum Minerals Ltd. (FM.TO) has a market capitalization of CA$30.01B.

In fiscal 2025, FM.TO reported revenue of CA$5.24B.

FM.TO Stock Return by Calendar Year

First Quantum Minerals Ltd. (FM.TO) 10-year return: what CA$10,000 became

1 year
CA$10,000 CA$12,062
+20.62%
5 years
CA$10,000 CA$12,467
+24.67%
10 years
CA$10,000 CA$31,239
+212.39%

If you had invested CA$10,000 in First Quantum Minerals Ltd. (FM.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$31,239 at the close on October 21, 2026: +212.39% in total, +12.06% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

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

YearReturn
2026 (partial year)−2.26%
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 October 21, 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 Dividend History

CA$0.21+27.3% vs 2022

Dividends per share, 2023 · 2 payments

YearDividends per sharePaymentsChange
2023CA$0.212+27.3%
2022CA$0.172+1,550.0%
2021CA$0.012+0.0%
2020CA$0.012+0.0%
YearDividends per sharePaymentsChange
2023CA$0.212+27.3%
2022CA$0.172+1,550.0%
2021CA$0.012+0.0%
2020CA$0.012+0.0%
2019CA$0.012+0.0%
2018CA$0.012+0.0%
2017CA$0.012—

Most recent payment: CA$0.11 per share, ex-dividend August 25, 2023. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

FM.TO Valuation vs Copper Median

Median of 17 stocks
MetricFM.TOCopper medianvs median
P/S ratio5.224.1526% above
Profit margin−1.44%17.81%19.3 pts below

Medians across 17 Copper stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

First Quantum Minerals Ltd. (FM.TO) is capitalised at CA$30.01B 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$27.06 to CA$49.27. FM.TO last closed at CA$35.97 on October 21, 2026. That is −CA$0.20 (−0.55%) against the previous close. The latest close sits 32.93% 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 19.3 percentage points below the Copper median of 17.81%. Trailing earnings per share are −0.14.

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 12.9. The PEG ratio, which sets the P/E against expected earnings growth, reads 0.96. Measured against sales, the shares trade at 5.22 times revenue. On price-to-sales that is 25.83% above the Copper median of 4.15. The medians here are taken across 17 Copper companies that report the metric.

The reported beta is 2.06. Annualized volatility over the trailing 10 years is 60.14%. The trailing one-year total return is +20.62%. Across 10 years the annualized return works out at +12.06%.

Growth & Income

The dividend record for FM.TO runs through 2023. Dividends are recorded for 7 calendar years; 2023 shows 2 payments totalling CA$0.21 a share. The year before, 2022, totalled CA$0.17 a share.

So far in 2026 the total return is −2.26%. 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$30.01B —
Southern Copper Corporation SCCO $167.24B 29.6
Freeport-McMoRan Inc. FCX $98.94B 33.9
Teck Resources Limited TECK $30.80B 17.1

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Copper industry average P/E ratio is 15.6x. 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 daily rebuild. Informational only, not financial advice. As of October 21, 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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