First Quantum Minerals Ltd. Forecasted to Earn Q2 2024 Earnings of $0.01 Per Share (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Analysts at Raymond James upped their Q2 2024 earnings per share (EPS) estimates for shares of First Quantum Minerals in a research note issued on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the basic materials company will post earnings of $0.01 per share for the quarter, up from their prior forecast of ($0.04). Raymond James has a “Market Perform” rating and a $16.00 price objective on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is ($0.15) per share. Raymond James also issued estimates for First Quantum Minerals’ Q3 2024 earnings at $0.03 EPS, Q4 2024 earnings at $0.05 EPS and FY2024 earnings at $0.02 EPS.

Separately, Royal Bank of Canada upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

First Quantum Minerals Stock Up 2.6 %

FQVLF opened at $11.65 on Thursday. The business’s 50-day simple moving average is $10.35 and its 200-day simple moving average is $11.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.93 and a current ratio of 1.72. First Quantum Minerals has a one year low of $6.92 and a one year high of $29.79. The stock has a market capitalization of $9.71 billion, a P/E ratio of 162.14 and a beta of 1.82.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). First Quantum Minerals had a positive return on equity of 0.26% and a negative net margin of 20.02%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $931.34 million.

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.