Stifel Canada Issues Optimistic Forecast for TSE:FM Earnings

First Quantum Minerals Ltd. (TSE:FM) – Analysts at Stifel Canada raised their FY2024 earnings estimates for shares of First Quantum Minerals in a research report issued to clients and investors on Sunday, December 15th. Stifel Canada analyst C. Mcgill now forecasts that the company will post earnings of ($0.14) per share for the year, up from their previous estimate of ($0.27). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share. Stifel Canada also issued estimates for First Quantum Minerals’ FY2025 earnings at ($0.14) EPS, FY2026 earnings at $0.40 EPS and FY2027 earnings at $1.48 EPS.

FM has been the topic of several other reports. CIBC increased their price target on First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Barclays raised shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. Royal Bank of Canada raised their price target on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. National Bankshares boosted their price objective on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, 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 report on Thursday, December 12th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, First Quantum Minerals presently has an average rating of “Hold” and a consensus target price of C$21.05.

First Quantum Minerals Trading Down 5.5 %

Shares of First Quantum Minerals stock opened at C$17.77 on Wednesday. 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 stock has a market capitalization of C$14.82 billion, a P/E ratio of -6.86, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 12-month low of C$10.34 and a 12-month high of C$21.45. The company has a 50-day simple moving average of C$18.72 and a 200 day simple moving average of C$17.71.

Insider Buying and Selling at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value 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.