National Bank Financial Weighs in on First Quantum Minerals Ltd.’s FY2023 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FMGet Rating) – Investment analysts at National Bank Financial raised their FY2023 earnings per share (EPS) estimates for shares of First Quantum Minerals in a research note issued to investors on Thursday, September 15th. National Bank Financial analyst S. Nagle now expects that the company will post earnings per share of $2.97 for the year, up from their prior estimate of $2.91. The consensus estimate for First Quantum Minerals’ current full-year earnings is $1.99 per share.

A number of other research analysts have also issued reports on the company. CIBC dropped their target price on First Quantum Minerals from C$34.00 to C$28.00 in a report on Tuesday, August 2nd. Royal Bank of Canada dropped their price objective on First Quantum Minerals from C$42.00 to C$33.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Citigroup downgraded First Quantum Minerals to a “sell” rating and decreased their target price for the stock from C$40.00 to C$20.00 in a research report on Wednesday, July 13th. BMO Capital Markets decreased their target price on First Quantum Minerals from C$35.00 to C$30.00 in a research report on Wednesday, August 17th. Finally, Scotiabank reduced their price objective on First Quantum Minerals from C$35.00 to C$33.00 in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$33.32.

First Quantum Minerals Price Performance

Shares of TSE FM opened at C$23.32 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.18 and a debt-to-equity ratio of 68.45. First Quantum Minerals has a twelve month low of C$18.67 and a twelve month high of C$45.38. The stock has a 50 day moving average of C$22.73 and a two-hundred day moving average of C$31.14. The stock has a market cap of C$16.13 billion and a P/E ratio of 9.15.

First Quantum Minerals (TSE:FMGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The company reported C$0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.70 by C($0.07). The firm had revenue of C$2.43 billion during the quarter, compared to analyst estimates of C$2.43 billion.

First Quantum Minerals Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th will be given a $0.16 dividend. The ex-dividend date is Friday, August 26th. This represents a dividend yield of 0.68%. This is a boost from First Quantum Minerals’s previous Semi-Annual dividend of $0.01. First Quantum Minerals’s payout ratio is currently 0.31%.

First Quantum Minerals Company Profile

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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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