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) – Research analysts at Raymond James boosted their Q2 2024 earnings estimates for First Quantum Minerals in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.01 for the quarter, up from their prior forecast 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.

A number of other brokerages have also recently commented on FM. 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 note on Tuesday, March 26th. Scotiabank dropped their price target on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 22nd. TD Securities upped their target price on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the stock a “hold” rating in a report on Thursday. BMO Capital Markets decreased their target price on shares of First Quantum Minerals from C$17.50 to C$17.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, CIBC upped their target price on shares of First Quantum Minerals from C$14.00 to C$15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$16.96.

First Quantum Minerals Trading Up 12.5 %

TSE:FM opened at C$18.27 on Thursday. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41. The firm has a 50-day moving average of C$14.31 and a 200-day moving average of C$15.00. The company has a market cap of C$15.23 billion, a PE ratio of -9.77, a PEG 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.

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 analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The firm had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.58 billion.

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.