Raymond James Comments on First Quantum Minerals Ltd.’s Q1 2024 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Stock analysts at Raymond James decreased their Q1 2024 earnings estimates for First Quantum Minerals in a research report issued to clients and investors on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the company will earn ($0.10) per share for the quarter, down from their prior estimate of ($0.04). 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’ Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.01) EPS and FY2024 earnings at ($0.15) EPS.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. The company had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion.

Other research analysts have also issued research reports about the stock. National Bankshares raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$15.00 to C$16.50 in a research report on Friday, March 1st. Canaccord Genuity Group increased their price target on shares of First Quantum Minerals from C$21.00 to C$22.00 in a research report on Wednesday, April 17th. Eight Capital increased their price target on shares of First Quantum Minerals from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a research report on Monday. BMO Capital Markets increased their price target on shares of First Quantum Minerals from C$7.50 to C$8.50 in a research report on Wednesday, April 17th. Finally, CIBC increased their price target 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Hold” and a consensus price target of C$16.26.

First Quantum Minerals Stock Performance

TSE:FM opened at C$15.52 on Monday. 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 quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21. The firm has a market capitalization of C$12.94 billion, a PE ratio of -8.30, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The firm has a 50-day moving average price of C$14.01 and a 200 day moving average price of C$15.07.

First Quantum Minerals Company Profile

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.