First Quantum Minerals Management
Management criteria checks 3/4
First Quantum Minerals' CEO is Anthony Pascall, appointed in May 2022, has a tenure of 4.25 years. total yearly compensation is $5.32M, comprised of 24.2% salary and 75.8% bonuses, including company stock and options. directly owns 0.037% of the company’s shares, worth CA$13.27M. The average tenure of the management team and the board of directors is 4.3 years and 3.8 years respectively.
Key information
Anthony Pascall
Chief executive officer
US$5.3m
Total compensation
| CEO salary percentage | 24.23% |
| CEO tenure | 4.3yrs |
| CEO ownership | 0.04% |
| Management average tenure | 4.3yrs |
| Board average tenure | 3.8yrs |
Recent management updates
Recent updates
FM: Restart Progress And Copper Exposure Will Drive Future Upside Potential
First Quantum Minerals' updated fair value estimate has increased to CA$48.56 from CA$47.06, as analysts adjust price targets within a mixed range of CA$41 to CA$55 and factor in revised margin expectations along with higher assumed future P/E levels. Analyst Commentary Recent Street research on First Quantum Minerals shows a wide range of opinions, with price targets clustered between about CA$33 and CA$55 and ratings that span from Neutral to Buy and Overweight.
FM: Cobre Panama Progress Is Expected To Drive Future Re Rating
Analyst price targets for First Quantum Minerals have moved higher to CA$55 from CA$46, with the shift supported by expectations of improved financial conditions, potential progress around Cobre Panama and a stronger copper backdrop highlighted across recent research updates. Analyst Commentary Recent research updates on First Quantum Minerals show a cluster of bullish analysts lifting price targets into the mid C$40s and low to mid C$50s, with several upgrades to more positive ratings.
FM: Fair Value View Balances Cobre Panama Clarity And Margin Resilience
Analysts have lifted the fair value estimate for First Quantum Minerals to CA$40.73, reflecting a higher assumed future P/E of 20.0x and slightly stronger profit margins. Recent Street price targets, ranging roughly from CA$41 to CA$55, highlight differing views on the potential impact of Cobre Panama and updated risk assumptions.FM: Cobre Panama Restart Progress Will Drive Future Upside Potential
The updated analyst price target for First Quantum Minerals has increased from CA$34.96 to CA$47.06. Analysts attribute this change to recent target increases and rating upgrades that reflect potential benefits from progress around Cobre Panama and a reassessment of the overall risk/reward profile.Cobre Panamá Uncertainty And Rising Zambian Costs Will Pressure Margins And Future Cash Flows
Catalysts About First Quantum Minerals First Quantum Minerals is a global mining company focused on producing copper, nickel and gold from operations in Zambia, Panama, Turkey, Finland and other jurisdictions. What are the underlying business or industry changes driving this perspective?CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2026 | n/a | n/a | -US$83m |
| Mar 31 2026 | n/a | n/a | -US$201m |
| Dec 31 2025 | US$5m | US$1m | -US$28m |
| Sep 30 2025 | n/a | n/a | US$46m |
| Jun 30 2025 | n/a | n/a | US$202m |
| Mar 31 2025 | n/a | n/a | US$138m |
| Dec 31 2024 | US$5m | US$1m | US$2m |
| Sep 30 2024 | n/a | n/a | -US$2b |
| Jun 30 2024 | n/a | n/a | -US$1b |
| Mar 31 2024 | n/a | n/a | -US$1b |
| Dec 31 2023 | US$5m | US$1m | -US$954m |
| Sep 30 2023 | n/a | n/a | US$610m |
| Jun 30 2023 | n/a | n/a | US$398m |
| Mar 31 2023 | n/a | n/a | US$724m |
| Dec 31 2022 | US$4m | US$852k | US$1b |
| Sep 30 2022 | n/a | n/a | US$1b |
| Jun 30 2022 | n/a | n/a | US$1b |
| Mar 31 2022 | n/a | n/a | US$1b |
| Dec 31 2021 | US$4m | US$675k | US$832m |
| Sep 30 2021 | n/a | n/a | US$594m |
| Jun 30 2021 | n/a | n/a | US$320m |
| Mar 31 2021 | n/a | n/a | US$24m |
| Dec 31 2020 | US$2m | US$584k | -US$180m |
| Sep 30 2020 | n/a | n/a | -US$304m |
| Jun 30 2020 | n/a | n/a | -US$406m |
| Mar 31 2020 | n/a | n/a | -US$172m |
| Dec 31 2019 | US$1m | US$507k | -US$57m |
Compensation vs Market: Anthony's total compensation ($USD5.32M) is below average for companies of similar size in the Canadian market ($USD7.65M).
Compensation vs Earnings: Anthony's compensation has increased whilst the company is unprofitable.
CEO
Anthony Pascall (50 yo)
Mr. Anthony Tristan Pascall served as the Chief Operating Officer at First Quantum Minerals Limited since January 01, 2021. He serves as Chief Executive Officer and Director at First Quantum Minerals Ltd....
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 4.3yrs | US$5.32m | 0.037% CA$ 13.3m | |
| Chief Financial Officer | 3.9yrs | US$2.33m | 0.015% CA$ 5.3m | |
| Chief Operating Officer | 3.9yrs | US$1.93m | 0.037% CA$ 13.2m | |
| Group Technical Director | no data | US$889.80k | 0.0099% CA$ 3.6m | |
| Director of Investor Relations | no data | no data | no data | |
| Corporate Secretary | 9.2yrs | no data | no data | |
| General Manager of Finance | 14.6yrs | no data | no data |
Experienced Management: FM's management team is considered experienced (4.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 4.3yrs | US$5.32m | 0.037% CA$ 13.3m | |
| Independent Non-Executive Director | 9.3yrs | US$215.00k | 0.0075% CA$ 2.7m | |
| Independent Non-Executive Director | 8.3yrs | US$220.00k | 0.0045% CA$ 1.6m | |
| Independent Non-Executive Director | 3.3yrs | US$212.23k | no data | |
| Independent Non-Executive Chairman | 5.3yrs | US$326.20k | 0.0042% CA$ 1.5m | |
| Independent Director | 1.8yrs | US$161.83k | no data | |
| Non-Independent Non- Executive Director | 1.3yrs | US$145.88k | 0.0012% CA$ 435.5k | |
| Independent Non-Executive Director | 4.3yrs | US$211.25k | 0.0013% CA$ 449.9k | |
| Independent Director | 1.8yrs | US$238.61k | no data | |
| Independent Non-Executive Director | 1.3yrs | US$145.88k | 0.000080% CA$ 28.8k |
Experienced Board: FM's board of directors are considered experienced (3.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/19 21:27 |
| End of Day Share Price | 2026/08/19 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
First Quantum Minerals Ltd. is covered by 47 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Harriet Li | Accountability Research Corporation |
| Clifford Hale-Sanders | ATB Cormark Historical (Cormark Securities) |
| Richard Garchitorena | Barclays |