Brokers Offer Predictions for First Quantum Minerals Ltd.’s Q2 2024 Earnings (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Equities research analysts at Raymond James boosted their Q2 2024 earnings per share estimates for First Quantum Minerals in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the basic materials company will post earnings of $0.01 per share for the quarter, up from their prior forecast of ($0.04). Raymond James currently has a “Market Perform” rating and a $16.00 price target on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is ($0.15) per share. Raymond James also issued estimates for First Quantum Minerals’ Q3 2024 earnings at $0.03 EPS, Q4 2024 earnings at $0.05 EPS and FY2024 earnings at $0.02 EPS.

Separately, Royal Bank of Canada upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a research report on Monday, March 4th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, First Quantum Minerals has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

First Quantum Minerals Price Performance

Shares of FQVLF stock opened at $11.86 on Thursday. The stock has a 50-day moving average price of $10.41 and a 200 day moving average price of $11.10. The company has a quick ratio of 0.93, a current ratio of 1.72 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of -6.98 and a beta of 1.82. First Quantum Minerals has a 12 month low of $6.92 and a 12 month high of $29.79.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $931.34 million. First Quantum Minerals had a positive return on equity of 0.26% and a negative net margin of 20.02%.

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.