Intrinsic Value

Is FM undervalued or overvalued?

See the intrinsic value estimate for First Quantum Minerals Ltd and find out whether today’s valuation is cheap or expensive by its own historical standards.

Do our valuations actually work? See backtest results .

FM Intrinsic Value
LOCKED
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Today vs. history

FM looks overvalued.
But is it expensive by its own standards?

See how today’s valuation compares with FM’s past valuations and how the stock performed after similar periods.

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20% below Intrinsic Value
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Current Price CA$36.17
Intrinsic Value Locked
Margin of Safety 20% Locked
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Fundamental Analysis

What First Quantum Minerals Does

Metals & Mining Materials

First Quantum Minerals Ltd. is a mining company that finds, develops, and operates mines for copper, nickel, gold, and related byproducts. Its business is to pull ore from the ground, process it into metal concentrates or refined products, and sell those materials into industrial supply chains. Copper is the core of the company’s business, so its fortunes are tied closely to global demand for wiring, power grids, construction, and electric equipment.

Headquarters
Canada CA
Employees
15 661
IPO date
Feb 1, 2010
Read the full company overview
View Company Overview

First Quantum Minerals has no economic moat

No Moat Narrow Wide

First Quantum Minerals Ltd lacks an economic moat, leaving it vulnerable to competitive pressures and market challenges.

Read the full moat analysis

Latest Earnings Call

Q2 2026 · July 29, 2026

Open the earnings call
EPS
−CA$0.13
Expected
−CA$0.04
Surprise
−225.0%
Stock, day of the call
+1.2%
View Earnings Call
Financials
Efficiency

Earnings Waterfall
First Quantum Minerals Ltd

Wall St Price Targets

Capital Returns

Buyback Yield
LOCKED
Debt Paydown Yield
LOCKED

Competitive Landscape

What is the Intrinsic Value of one FM stock?

The intrinsic value for First Quantum Minerals Ltd (FM) under the Base Case is hidden CAD.

Is FM stock undervalued or overvalued?

Compared with the current market price of 36.17 CAD, the stock appears hidden.

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