First Quantum Minerals stock falls 1.67 percent before October 28 results

Published on 10/07/2026 at 07:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First Quantum Minerals stock was last at CAD 39.95 on October 6, 2026, after a 1.67 percent daily decline. Q2 revenue rose 24 percent to USD 1.522 billion.

First Quantum Minerals, CA3359341052, Illustration mit AI erstellt.

First Quantum Minerals stock (ISIN CA3359341052) was last at CAD 39.95 on the Toronto Stock Exchange on October 6, 2026 at 4:00 p.m. ET, down 1.67 percent for the session. The next company checkpoint is the publication of third quarter 2026 results on October 28, 2026, after the close of the Toronto Stock Exchange, according to First Quantum Minerals.

October results set the next test

The October 28 release will put production, costs and the Cobre Panama process back at the center of the investment case. The company will hold its results call and webcast on October 29, 2026 at 9:00 a.m. ET, giving investors a second date for management commentary.

Cobre Panama remains the strategic swing factor. In its September 30 update, First Quantum Minerals said Panama's ministerial commission made 17 recommendations, including formal negotiations on a framework that could permit operations aimed at an orderly closure. The company said any agreement would require the resolution of pending international arbitrations.

Q2 revenue rose 24 percent

Second quarter revenue reached USD 1.522 billion, up 24 percent from the second quarter of 2025, while net income increased USD 118.0 million to USD 136.0 million and diluted earnings per share reached USD 0.16, according to Simply Wall St in its October 2026 results summary.

The operating picture also improved sequentially. The second quarter earnings call reported copper production of more than 100,000 tons, a 4 percent increase from the first quarter, while 2026 copper production guidance remained 405,000 to 475,000 tons. That combination makes the October report important because the market will measure operating progress against the unresolved Panama framework.

Consensus target stays above the stock

MarketBeat reported a Moderate Buy consensus on October 1, 2026, based on 13 analysts, with nine Buy ratings, three Holds and one Strong Buy. The average 12-month target was CAD 46.34, which is 16.0 percent above the October 6 price of CAD 39.95, according to MarketBeat.

First Quantum Minerals stock stays below yearly high

First Quantum Minerals stock was last at CAD 39.95 on October 6, 2026, with a session range of CAD 39.35 to CAD 40.89. Its 52-week range was CAD 27.06 to CAD 49.27, placing the stock 18.9 percent below the high, while market capitalization stood at CAD 33.3 billion.