UBS lifts target to CAD 60 for First Quantum Minerals stock
Published on 10/17/2026 at 19:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTargets and dates
- UBS lifted its First Quantum Minerals target from CAD 55.00 to CAD 60.00 on October 7, 2026.
- Third-quarter results are scheduled for October 28, 2026, with the conference call on October 29, 2026.
- First Quantum Minerals stock was last at EUR 23.32 in Frankfurt on October 16, 2026, 0.34 percent above the Frankfurt close of October 15, 2026.
- The Frankfurt quote showed a 52-week high of EUR 30.37 and a market capitalization of EUR 20.2 billion.
UBS raised its price target for First Quantum Minerals from CAD 55.00 to CAD 60.00 on October 7, 2026, while keeping its Buy rating, according to Boerse Global. The new target is 63.09 percent above the Toronto-listed share price of CAD 36.79 on October 16, 2026. First Quantum Minerals stock was last at EUR 23.32 in Frankfurt on October 16, 2026 at 8:00 a.m. CEST, 0.34 percent above the Frankfurt close of October 15, 2026.
Results set the next date
First Quantum Minerals will release its third-quarter 2026 financial and operating results after the Toronto Stock Exchange close on October 28, 2026. The company will hold its results call on October 29, 2026 at 9:00 a.m. ET, according to First Quantum Minerals. The dates give the market a defined checkpoint for operations, cash generation and the outlook for its copper portfolio.
Stock remains below its yearly high
The Frankfurt quote put the 52-week range at EUR 16.91 to EUR 30.37 on October 16, 2026. The last price stood 23.21 percent below that high and 37.82 percent above the low. The same page showed a 0.20 percent gain year to date and a 15.00 percent decline over one month.
The company describes itself as one of the world's top 10 copper producers and says its operations also include nickel. Its investor page lists the second-quarter 2026 results from July 28, 2026 and identifies copper, nickel and gold as its main products.
Valuation and comparison
First Quantum Minerals had a market capitalization of CAD 30.7 billion on October 16, 2026, with a trailing P/E ratio of minus 243.32. Its negative ratio reflects the earnings basis used for the quoted period rather than a conventional positive valuation multiple.
Comparison with peers
First Quantum Minerals (TSX, CAD): plus 0.34 percent, P/E minus 243.32, market capitalization CAD 30.7 billion
Freeport-McMoRan (NYSE, USD): minus 0.74 percent, P/E 34.09, market capitalization USD 100.0 billion
Southern Copper (NYSE, USD): minus 0.59 percent, P/E 29.36, market capitalization USD 169.3 billion
What investors can measure next
The October 28 results will test whether the revenue and cash-flow profile reported for the first half of 2026 is carrying into the third quarter. UBS's CAD 60.00 target offers a separate valuation marker, but the company's own results date is the next scheduled measurement point.
The latest Frankfurt quote placed the stock at EUR 23.32 on October 16, 2026 at 8:00 a.m. CEST, 0.34 percent above the Frankfurt close of October 15, 2026.
Market context: Market report S&P/TSX Composite.
