Equities Analysts Offer Predictions for First Quantum Minerals Ltd.’s Q2 2022 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FMGet Rating) – Stock analysts at Jefferies Financial Group dropped their Q2 2022 earnings estimates for shares of First Quantum Minerals in a research note issued on Tuesday, June 7th. Jefferies Financial Group analyst C. Lafemina now expects that the company will post earnings of $0.91 per share for the quarter, down from their prior forecast of $1.16. Jefferies Financial Group also issued estimates for First Quantum Minerals’ FY2023 earnings at $5.46 EPS, FY2024 earnings at $7.29 EPS and FY2025 earnings at $7.67 EPS.

A number of other brokerages have also recently weighed in on FM. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals to a “buy” rating and set a C$47.00 price target for the company in a research report on Wednesday, April 27th. Scotiabank upped their target price on First Quantum Minerals from C$43.00 to C$50.00 in a research report on Wednesday, April 13th. JPMorgan Chase & Co. cut their price target on First Quantum Minerals from C$46.00 to C$45.00 in a research report on Thursday, April 28th. Canaccord Genuity Group raised First Quantum Minerals to a “buy” rating and set a C$44.00 price objective for the company in a report on Thursday, April 28th. Finally, National Bankshares lifted their target price on shares of First Quantum Minerals from C$40.00 to C$48.00 in a report on Friday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$40.13.

TSE FM opened at C$36.17 on Thursday. First Quantum Minerals has a 52 week low of C$20.67 and a 52 week high of C$45.38. The firm has a 50 day moving average of C$37.48 and a two-hundred day moving average of C$34.90. The company has a quick ratio of 1.58, a current ratio of 2.35 and a debt-to-equity ratio of 65.34. The stock has a market capitalization of C$25.02 billion and a PE ratio of 18.56.

First Quantum Minerals (TSE:FMGet Rating) last released its earnings results on Tuesday, April 26th. The company reported C$0.89 EPS for the quarter, topping the consensus estimate of C$0.82 by C$0.07. The company had revenue of C$2.74 billion for the quarter, compared to analyst estimates of C$2.55 billion.

In related news, Director G. Clive Newall sold 2,551 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of C$42.50, for a total transaction of C$108,417.50. Following the transaction, the director now owns 2,193,461 shares of the company’s stock, valued at C$93,222,092.50. Over the last 90 days, insiders sold 97,272 shares of company stock worth $4,086,647.

First Quantum Minerals Company Profile (Get Rating)

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, gold, silver, 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.

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Earnings History and Estimates for First Quantum Minerals (TSE:FM)

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