Q2 2024 EPS Estimates for First Quantum Minerals Ltd. Raised by Raymond James (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Investment analysts at Raymond James lifted their Q2 2024 earnings per share estimates for shares of First Quantum Minerals in a note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $0.01 per share for the quarter, up from their prior estimate 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.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$17.00 to C$18.00 in a report on Monday, March 4th. Eight Capital boosted their price objective on First Quantum Minerals from C$16.00 to C$17.00 and gave the company a “neutral” rating in a report on Monday. Bank of America boosted their price objective on First Quantum Minerals from C$16.00 to C$17.00 in a report on Tuesday, April 9th. Barclays boosted their price objective on First Quantum Minerals from C$13.00 to C$16.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, National Bankshares upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$15.00 to C$16.50 in a research note on Friday, March 1st. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and a consensus target price of C$16.85.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$15.94 on Thursday. The stock has a market cap of C$13.29 billion, a PE ratio of -8.52, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The business has a 50-day simple moving average of C$14.10 and a 200-day simple moving average of C$15.08. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21. First Quantum Minerals has a 52-week low of C$9.31 and a 52-week high of C$39.13.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results 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 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 analyst estimates 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.