First Quantum Minerals (TSE:FM) Releases Quarterly Earnings Results

First Quantum Minerals (TSE:FM) issued its earnings results on Tuesday. The company reported C($0.19) earnings per share (EPS) for the quarter, reports. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The company had revenue of C$2.16 billion during the quarter.

First Quantum Minerals Price Performance

TSE FM traded down C$0.89 on Tuesday, hitting C$37.51. 3,741,622 shares of the company were exchanged, compared to its average volume of 3,066,700. First Quantum Minerals has a 1-year low of C$22.16 and a 1-year high of C$46.36. The firm has a 50 day moving average of C$39.81 and a two-hundred day moving average of C$37.75. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67. The company has a market cap of C$31.07 billion, a P/E ratio of -156.29, a P/E/G ratio of -1.28 and a beta of 1.43.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FM. JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and upped their price target for the company from C$28.00 to C$37.00 in a research report on Friday, April 24th. Scotia dropped their price objective on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a report on Thursday, April 30th. TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Stifel Nicolaus boosted their target price on First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Barclays increased their price target on First Quantum Minerals from C$42.00 to C$46.00 in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$44.96.

Insider Activity

In other First Quantum Minerals news, insider Gavin Ashley sold 20,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the transaction, the insider directly owned 75,905 shares of the company’s stock, valued at approximately C$3,491,630. The trade was a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson bought 1,073 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the purchase, the director owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their position. Company insiders own 19.35% of the company’s stock.

About First Quantum Minerals

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.