First Quantum Minerals Ltd. to Post Q2 2024 Earnings of $0.01 Per Share, Raymond James Forecasts (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Raymond James lifted their Q2 2024 EPS estimates for First Quantum Minerals in a research report issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will earn $0.01 per share for the quarter, up from their previous estimate of ($0.06). 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’ Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.07 EPS and FY2024 earnings at $0.03 EPS.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) EPS 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 analysts’ expectations 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%.

FM has been the topic of a number of other reports. Jefferies Financial Group lowered their price target on shares of First Quantum Minerals from C$20.00 to C$19.50 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley upped their price objective on shares of First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. National Bankshares upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$15.00 to C$16.50 in a research report on Friday, March 1st. Stifel Nicolaus set a C$14.00 price target on shares of First Quantum Minerals and gave the company a “hold” rating in a research report on Tuesday, March 26th. Finally, Bank of America lifted their price target on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. Eleven investment 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 company currently has a consensus rating of “Hold” and a consensus price target of C$16.96.

First Quantum Minerals Trading Up 12.5 %

Shares of First Quantum Minerals stock opened at C$18.27 on Thursday. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$39.13. The company has a market cap of C$15.23 billion, a price-to-earnings ratio of -9.77, a PEG ratio of -1.28 and a beta of 2.01. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21. The company’s 50-day moving average price is C$14.31 and its 200-day moving average price is C$15.00.

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.