First Quantum Minerals (TSX:FM) might not be the biggest name on the TSX, but it’s been making some outsized moves in the base metals space. The past year has been a rollercoaster for the stock, which is up more than 40% over the last 12 months despite navigating a shutdown at one of its flagship assets. That kind of resilience is rare in the mining sector, especially among companies with a sub-$20 billion market cap. Now, with several major catalysts in play, First Quantum is positioning itself for a potentially stronger second half of 2025.
What happened?
The gold stock’s second-quarter (Q2) results told a story of both progress and lingering challenges. Net earnings came in at $18 million, or $0.02 per share, with earnings before interest, taxes, depreciation, and amortization (EBITDA) at $400 million. Those numbers marked an improvement from Q1, thanks to higher gold sales volumes and better realized prices for both copper…
