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

First Quantum Minerals Ltd. (TSE:FM) – Analysts at Raymond James raised their Q2 2024 earnings per share estimates for shares of First Quantum Minerals in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the company will post earnings of $0.01 per share for the quarter, up from their prior forecast 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.

Several other equities analysts also recently commented on the company. Canaccord Genuity Group cut their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating on the stock in a research report on Thursday. Barclays upped 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 research report on Tuesday, April 16th. Citigroup cut their price objective on First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 10th. Royal Bank of Canada raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. Finally, BMO Capital Markets dropped their price target on First Quantum Minerals from C$17.50 to C$17.00 and set an “outperform” rating on the stock in a research report on Wednesday. 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 data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and an average price target of C$16.96.

First Quantum Minerals Stock Performance

TSE FM opened at C$16.24 on Thursday. The business’s 50 day moving average price is C$14.19 and its 200-day moving average price is C$15.08. The company has a market cap of C$13.54 billion, a P/E ratio of -8.68, a P/E/G ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$39.13.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The company had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%.

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.