First Quantum Minerals (TSX:FM) Total Operating Expense: C$503 Mil (TTM As of Mar. 2026)


TSX:FM First Quantum Minerals Ltd TSX:FM
75 GF Score
Price C$39.80
GF Value C$22.52
Valuation Significantly Overvalued
! 6 Warning Signs
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What is First Quantum Minerals Total Operating Expense?

First Quantum Minerals TSX:FM +1.14% 75 Total Operating Expense is C$503 Mil as of Mar. 2026. GuruFocus rates TSX:FM with a GF Score™ of 75/100 and a GF Value™ of C$22.52 (Significantly Overvalued). The stock has 6 warning signs investors should review.

First Quantum Minerals's Total Operating Expense for the three months ended in Mar. 2026 was C$121 Mil. First Quantum Minerals's Total Operating Expense for the trailing twelve months (TTM) ended in Mar. 2026 was C$503 Mil.

First Quantum Minerals Total Operating Expense Related Terms

First Quantum Minerals Total Operating Expense Historical Data

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The historical data trend for First Quantum Minerals's Total Operating Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

First Quantum Minerals Total Operating Expense Chart

First Quantum Minerals Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Total Operating Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only 220.16 475.48 193.19 454.48 504.90

First Quantum Minerals Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Total Operating Expense Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 126.33 131.21 142.49 108.98 120.74
TSX:FM
75GF Score
First Quantum Minerals Ltd TSX:FM
Total Operating Expense is just one metric. See GF Score™, valuation, warning signs, and more.
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First Quantum Minerals Total Operating Expense Calculation

Total Operating Expense is the primary recurring expense associated with central operations that are incurred in order to generate sales.


Total Operating Expense for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$503 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Total Operating Expense of C$503 Mil mean?
First Quantum Minerals (TSX:FM) has a Total Operating Expense of C$503 Mil as of Mar. 2026. Total operating expense is the primary recurring expense associated with central operations. View historical data on First Quantum Minerals and its competitors.
Is First Quantum Minerals' Total Operating Expense too high?
First Quantum Minerals' current Total Operating Expense is C$503 Mil. Overall, First Quantum Minerals has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Quantum Minerals' Total Operating Expense compare to SCCO and FCX?
First Quantum Minerals' Total Operating Expense of C$503 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Total Operating Expense for a Metals & Mining company?
A good Total Operating Expense depends on the Metals & Mining industry context. However, Total Operating Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Total Operating Expense mean?
A high Total Operating Expense can signal that a stock is expensive relative to its fundamentals. Total operating expense is the primary recurring expense associated with central operations. View historical data on First Quantum Minerals and its competitors. First Quantum Minerals's current Total Operating Expense is C$503 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Quantum Minerals stock overvalued right now?
Based on GuruFocus' analysis, First Quantum Minerals (TSX:FM) is currently considered Significantly Overvalued. The stock's GF Value™ is C$22.52, compared to a current price of C$39.80 — trading 76.7% above its estimated fair value. The current Total Operating Expense is C$503 Mil. First Quantum Minerals' overall GF Score™ is 75/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Total Operating Expense calculated?
Total Operating Expense is calculated from a company's financial statements. For First Quantum Minerals (TSX:FM), the current Total Operating Expense is C$503 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is First Quantum Minerals (TSX:FM) Overvalued in 2026?

Based on GuruFocus' analysis, First Quantum Minerals stock appears to be overvalued. The current stock price of C$39.80 is trading 76.7% above its estimated GF Value™ of C$22.52. GuruFocus considers First Quantum Minerals to be Significantly Overvalued.

Key valuation signals for TSX:FM:

  • Total Operating Expense: C$503 Mil
  • GF Value™: C$22.52 vs. price of C$39.80 (76.7% above fair value)
  • GF Score™: 75/100 with 6 warning signs

No single metric tells the full story. See the TSX:FM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

First Quantum Minerals Business Description

Other Exchanges FQVLF:USAIZ1:Germany
Address 330 Bay Street, Suite 1101, Toronto, ON, CAN, M5H 2S8
First Quantum Minerals Ltd is a diversified mining company. The company's principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Panama, Turkey, Spain, Australia, and Mauritania. The company's reportable operating segments are Cobre Panama, Kansanshi, and Trident.
75GF Score

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Total Operating Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$39.80
Price
C$22.52
GF Value