First Quantum Minerals (TSE:FM) Releases Earnings Results, Beats Expectations By $0.01 EPS

First Quantum Minerals (TSE:FM) released its quarterly earnings data on Tuesday. The company reported C$0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01, RTT News reports. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%.

First Quantum Minerals Stock Down 4.9 %

Shares of FM stock traded down C$0.97 on Tuesday, hitting C$18.83. 3,803,673 shares of the stock were exchanged, compared to its average volume of 2,078,664. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The firm has a market capitalization of C$15.71 billion, a P/E ratio of -7.27, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The business has a 50-day moving average of C$19.13 and a 200 day moving average of C$18.01. First Quantum Minerals has a fifty-two week low of C$10.91 and a fifty-two week high of C$21.45.

Insider Transactions at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott purchased 1,397 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average cost of C$18.57 per share, with a total value of C$25,942.29. 19.35% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Jefferies Financial Group lowered their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Scotiabank decreased their price target on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Barclays decreased their price target on First Quantum Minerals from C$25.00 to C$23.40 in a research note on Thursday, January 30th. Royal Bank of Canada boosted their price target on First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Finally, CIBC boosted their price target on First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$21.47.

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.