What is Scotiabank’s Forecast for TSE:FM FY2024 Earnings?

First Quantum Minerals Ltd. (TSE:FM) – Investment analysts at Scotiabank lifted their FY2024 earnings per share (EPS) estimates for shares of First Quantum Minerals in a report released on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the company will post earnings per share of ($0.16) for the year, up from their previous estimate of ($0.49). Scotiabank has a “Sector Perform” rating and a $23.00 price objective on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share. Scotiabank also issued estimates for First Quantum Minerals’ FY2025 earnings at ($0.59) EPS.

Several other brokerages also recently weighed in on FM. JPMorgan Chase & Co. reduced their target price on First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. Morgan Stanley increased their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 12th. Jefferies Financial Group dropped their target price on shares of First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Finally, National Bankshares boosted their target price on First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$21.05.

First Quantum Minerals Trading Down 4.4 %

Shares of TSE:FM opened at C$19.83 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 12-month low of C$10.91 and a 12-month high of C$21.45. The business has a 50 day moving average of C$18.98 and a two-hundred day moving average of C$17.83. The company has a market capitalization of C$16.54 billion, a PE ratio of -7.66, a PEG ratio of -1.28 and a beta of 1.73.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott purchased 1,397 shares of the stock in a transaction on Tuesday, December 31st. The shares were bought at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Insiders own 19.35% 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.