Research Analysts Offer Predictions for First Quantum Minerals Ltd.’s Q2 2024 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Equities researchers at National Bank Financial issued their Q2 2024 earnings per share estimates for First Quantum Minerals in a report released on Wednesday, April 24th. National Bank Financial analyst S. Nagle forecasts that the company will post earnings of ($0.05) per share for the quarter. National Bank Financial currently has a “Outperform Spec Market Weight” rating on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.79 per share. National Bank Financial also issued estimates for First Quantum Minerals’ FY2024 earnings at ($0.05) EPS and FY2026 earnings at $2.61 EPS.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The business had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%.

FM has been the topic of several other research reports. Raymond James boosted their target price on First Quantum Minerals from C$16.00 to C$19.00 in a report on Tuesday, April 23rd. CIBC boosted their target price on First Quantum Minerals from C$14.00 to C$15.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Barclays boosted their target price on First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Canaccord Genuity Group dropped their target price on First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Morgan Stanley boosted their target price on First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Eleven equities research analysts have rated the stock with a hold rating and six have given 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 price target of C$16.96.

First Quantum Minerals Stock Performance

Shares of TSE FM opened at C$17.48 on Monday. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$39.13. The company has a market cap of C$14.57 billion, a PE ratio of -9.35, a P/E/G ratio of -1.28 and a beta of 2.01. The stock has a 50 day simple moving average of C$14.53 and a 200-day simple moving average of C$14.58. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21.

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.