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Company · Toronto · ON · Materials

First Quantum Minerals Ltd.

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Market read · Be The Puck

What the plays and the numbers say

First Quantum Minerals (FM) C$39.09 · +3.2% on the day · +20.2% in a year · close Oct 9, 2026

Where we think it’s heading

Leaning lower23 of 100 plays hold it; 0% above its 200-day average; analysts’ 12-month target +28% (22); crash exposure very high.

Business fundamentals

Fair 52/100
Value50Growth83Quality23
Momentum is fading and the numbers don’t offset it.P/E: losing money; revenue growth +24%; profit margin −1%; debt to equity 0.66×; no dividend.Scores 0–100 against every name Be The Puck covers; higher is better. Shown beside the call, not folded into it.
  • 23 of the 100 plays hold FM right now.
  • The trend-following, breakout and calendar plays mostly say out.
  • It closed 0% below its 200-day average and 20% below its 52-week high.
  • Crash exposure reads very high: it moves about 1.8× its index and fell about 2.0× as far as its index in past crashes.
  • Analysts' average 12-month target is C$49.93, 28% above the close (22 analysts).
Plays in23
Crash exposureVery high8 of 10 on the storm test
Mayer Multiple1.00×Price ÷ its 200-day average (0%). Higher than on 37% of days since 2005. Above 2.4 is Mayer's overheated zone.

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Analysis by Be The Puck: published trading rules and public data, rebuilt after each close. Education, not financial advice.

FMFirst Quantum Minerals Ltd.

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