FY2024 EPS Estimates for First Quantum Minerals Ltd. Lowered by Analyst (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Equities researchers at Stifel Canada lowered their FY2024 earnings per share estimates for First Quantum Minerals in a research report issued on Monday, July 22nd. Stifel Canada analyst C. Mcgill now forecasts that the company will earn ($0.23) per share for the year, down from their prior estimate of ($0.07). The consensus estimate for First Quantum Minerals’ current full-year earnings is $1.01 per share. Stifel Canada also issued estimates for First Quantum Minerals’ FY2026 earnings at $0.87 EPS.

A number of other analysts have also recently commented on FM. Morgan Stanley cut First Quantum Minerals from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 8th. BMO Capital Markets cut First Quantum Minerals from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$17.00 to C$19.00 in a research report on Tuesday, May 21st. Stifel Nicolaus upped their price objective on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Eight Capital upped their price objective on First Quantum Minerals from C$17.00 to C$22.00 in a research note on Thursday, July 11th. Finally, CIBC upped their price objective on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “neutral” rating in a research note on Thursday, June 20th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$19.71.

First Quantum Minerals Stock Performance

Shares of FM opened at C$16.76 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.68 and a debt-to-equity ratio of 52.05. The business has a 50-day simple moving average of C$17.81 and a two-hundred day simple moving average of C$15.47. The stock has a market cap of C$13.97 billion, a price-to-earnings ratio of -7.26, a PEG ratio of -1.28 and a beta of 1.96. 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 posted its quarterly earnings data on Tuesday, April 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). The firm had revenue of C$1.40 billion for the quarter, compared to analysts’ expectations of C$1.25 billion. First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 49,250 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. Company insiders own 16.10% of the company’s stock.

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.