Equities Analysts Issue Forecasts for TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Investment analysts at Stifel Canada boosted their FY2024 earnings per share (EPS) estimates for shares of First Quantum Minerals in a research note issued on Thursday, January 23rd. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings of ($0.07) per share for the year, up from their previous estimate of ($0.14). 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 ($0.23) EPS, FY2026 earnings at $0.50 EPS and FY2027 earnings at $1.22 EPS.

Several other equities analysts have also issued reports on FM. JPMorgan Chase & Co. decreased their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 in a report on Monday, January 20th. Royal Bank of Canada boosted their target price on First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Jefferies Financial Group lowered their price target on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Scotiabank cut their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Finally, Barclays raised First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, First Quantum Minerals has a consensus rating of “Hold” and a consensus price target of C$21.13.

First Quantum Minerals Stock Down 4.0 %

First Quantum Minerals stock opened at C$18.10 on Monday. The firm has a market capitalization of C$15.10 billion, a price-to-earnings ratio of -6.99, a PEG ratio of -1.28 and a beta of 1.73. The company’s 50 day simple moving average is C$19.12 and its 200 day simple moving average is C$18.00. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. First Quantum Minerals has a fifty-two week low of C$10.91 and a fifty-two week high of C$21.45.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of First Quantum Minerals stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. Also, Director Simon John Scott bought 1,397 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was purchased 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.

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.