Scotiabank Issues Optimistic Forecast for TSE:FM Earnings

First Quantum Minerals Ltd. (TSE:FM) – Scotiabank boosted their FY2026 earnings per share (EPS) estimates for First Quantum Minerals in a report released on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now forecasts that the company will earn $1.29 per share for the year, up from their previous forecast of $1.22. Scotiabank currently has a “Sector Perform” rating and a $21.50 target price on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter in the prior year, the business posted ($0.37) earnings per share.

FM has been the subject of a number of other reports. Stifel Canada upgraded shares of First Quantum Minerals to a “hold” rating in a research report on Wednesday. Morgan Stanley raised their target price on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Canaccord Genuity Group downgraded First Quantum Minerals from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$24.00 to C$20.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their target price on First Quantum Minerals from C$18.00 to C$17.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada upped their price objective on First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$21.57.

First Quantum Minerals Stock Performance

TSE:FM opened at C$22.23 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. First Quantum Minerals has a fifty-two week low of C$13.30 and a fifty-two week high of C$23.24. The firm’s fifty day simple moving average is C$19.01 and its 200-day simple moving average is C$18.50. The stock has a market cap of C$12.62 billion, a PE ratio of -8.22, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling

In related news, Director Simon John Scott bought 1,397 shares of the stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average price of C$18.57 per share, for a total transaction of C$25,942.29. Also, Director Charles Kevin Mcarthur purchased 25,000 shares of First Quantum Minerals stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of C$17.23 per share, for a total transaction of C$430,842.13. Corporate 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.