Research Analysts Offer Predictions for First Quantum Minerals Ltd.’s Q2 2024 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Stock analysts at National Bank Financial issued their Q2 2024 EPS estimates for shares of First Quantum Minerals in a research note issued to investors on Wednesday, April 24th. National Bank Financial analyst S. Nagle forecasts that the company will post earnings per share of ($0.05) for the quarter. National Bank Financial currently has a “Outperform Spec Market Weight” rating on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.79 per share. National Bank Financial also issued estimates for First Quantum Minerals’ FY2024 earnings at ($0.05) EPS and FY2026 earnings at $2.61 EPS.

Other equities research analysts have also recently issued research reports about the stock. CIBC raised their target price on shares of First Quantum Minerals from C$14.00 to C$15.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. BMO Capital Markets reduced their price objective on shares of 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, April 24th. Morgan Stanley lifted their price objective on shares of First Quantum Minerals from C$17.00 to C$18.90 and gave the company an “overweight” rating in a research report on Thursday, March 28th. National Bankshares upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$15.00 to C$16.50 in a research report on Friday, March 1st. Finally, TD Securities lifted their price objective on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$16.96.

First Quantum Minerals Price Performance

TSE FM opened at C$17.48 on Monday. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$39.13. The stock has a market cap of C$14.57 billion, a price-to-earnings ratio of -9.35, a PEG ratio of -1.28 and a beta of 2.01. The company’s 50 day moving average is C$14.53 and its two-hundred day moving average is C$14.58. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21.

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

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.