First Quantum Minerals Ltd. (TSE:FM) to Post FY2024 Earnings of ($0.18) Per Share, Raymond James Forecasts

First Quantum Minerals Ltd. (TSE:FM) – Investment analysts at Raymond James increased their FY2024 earnings per share estimates for First Quantum Minerals in a research note issued on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of ($0.18) for the year, up from their previous estimate of ($0.21). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.47 per share. Raymond James also issued estimates for First Quantum Minerals’ Q4 2024 earnings at $0.08 EPS, Q1 2025 earnings at $0.07 EPS and FY2025 earnings at $1.44 EPS.

A number of other research analysts have also weighed in on the company. Scotiabank decreased their price objective on First Quantum Minerals from C$18.50 to C$17.00 in a report on Monday, August 19th. JPMorgan Chase & Co. decreased their price target on shares of First Quantum Minerals from C$20.00 to C$16.00 in a research note on Friday, July 19th. Morgan Stanley boosted their price target on shares of First Quantum Minerals from C$19.40 to C$20.20 in a research report on Thursday, September 19th. Citigroup upgraded shares of First Quantum Minerals from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$14.00 to C$26.00 in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$19.00 to C$26.00 in a report on Wednesday, June 26th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$20.12.

First Quantum Minerals Stock Up 5.0 %

FM stock opened at C$19.25 on Thursday. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$32.48. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The firm has a 50-day simple moving average of C$16.45 and a 200-day simple moving average of C$16.59. The stock has a market capitalization of C$16.06 billion, a P/E ratio of -7.52, a P/E/G ratio of -1.28 and a beta of 1.72.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share for the quarter, topping the consensus estimate of C($0.05) by C$0.02. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. The business had revenue of C$1.68 billion during the quarter, compared to the consensus estimate of C$1.42 billion.

Insiders Place Their Bets

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total transaction of C$117,165.19. In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total value of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total transaction of C$117,165.19. Insiders own 19.35% of the company’s stock.

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.