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

First Quantum Minerals Ltd. (TSE:FM) – Equities research analysts at Raymond James raised their Q2 2024 earnings per share estimates for First Quantum Minerals in a research report issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will earn $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.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results 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 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%.

Other analysts have also recently issued research reports about the company. Scotiabank reduced their price objective on First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating for the company in a research report on Thursday, February 22nd. CIBC upped their price objective on First Quantum Minerals from C$14.00 to C$15.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. BMO Capital Markets reduced their price target on First Quantum Minerals from C$17.50 to C$17.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup reduced their price target on First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating for the company in a research report on Wednesday, January 10th. Finally, TD Securities upped their price target on First Quantum Minerals from C$14.50 to C$15.50 and gave the stock a “hold” rating in a research report on Monday, March 4th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$16.85.

First Quantum Minerals Stock Up 2.7 %

First Quantum Minerals 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 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 one year low of C$9.31 and a one year high of C$39.13. The stock has a fifty day moving average of C$14.10 and a 200 day moving average of C$15.08.

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.