Raymond James Comments on First Quantum Minerals Ltd.’s Q1 2024 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Investment analysts at Raymond James decreased their Q1 2024 earnings per share estimates for shares of First Quantum Minerals in a research note issued to investors on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the company will earn ($0.10) per share for the quarter, down from their previous estimate of ($0.04). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.79 per share. Raymond James also issued estimates for First Quantum Minerals’ Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.01) EPS and FY2024 earnings at ($0.15) EPS.

A number of other research firms also recently commented on FM. CIBC lifted their price target on First Quantum Minerals from C$14.00 to C$15.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. BMO Capital Markets lifted their price target on First Quantum Minerals from C$7.50 to C$8.50 in a research note on Wednesday, April 17th. Barclays raised their target price on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Morgan Stanley raised their target price on shares of First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Canaccord Genuity Group raised their target price on shares of First Quantum Minerals from C$21.00 to C$22.00 in a report on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$16.26.

First Quantum Minerals Stock Down 2.6 %

TSE:FM opened at C$15.52 on Monday. The company has a market capitalization of C$12.94 billion, a price-to-earnings ratio of -8.30, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The stock has a 50-day simple moving average of C$14.01 and a 200 day simple moving average of C$15.07. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The business had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion. First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.