Q3 2023 Earnings Forecast for First Quantum Minerals Ltd. (TSE:FM) Issued By Raymond James

First Quantum Minerals Ltd. (TSE:FM – Get Rating) – Research analysts at Raymond James boosted their Q3 2023 earnings estimates for First Quantum Minerals in a research report issued to clients and investors on Thursday, May 18th. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.71 for the quarter, up from their prior forecast of $0.66. Raymond James has a “Outperform” rating and a $34.00 price objective on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $1.63 per share. Raymond James also issued estimates for First Quantum Minerals’ Q4 2023 earnings at $0.86 EPS, Q1 2024 earnings at $0.62 EPS and FY2024 earnings at $2.48 EPS.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets lifted their price target on shares of First Quantum Minerals from C$30.00 to C$32.00 in a report on Wednesday, April 26th. Canaccord Genuity Group boosted their target price on shares of First Quantum Minerals from C$34.00 to C$36.00 in a research report on Thursday, March 9th. Royal Bank of Canada increased their price objective on shares of First Quantum Minerals from C$32.00 to C$42.00 in a research note on Tuesday, April 18th. National Bank Financial upgraded shares of First Quantum Minerals from a “sector perform spec overwgt” rating to an “outperform spec market weight” rating in a research note on Wednesday, April 26th. Finally, CIBC increased their price objective on shares of First Quantum Minerals from C$26.00 to C$28.00 in a research note on Friday, March 10th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Hold” and a consensus target price of C$32.26.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$31.67 on Monday. The firm has a market cap of C$21.93 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of -1.28 and a beta of 2.15. The firm’s fifty day moving average is C$31.52 and its 200-day moving average is C$30.20. The company has a debt-to-equity ratio of 67.15, a quick ratio of 1.41 and a current ratio of 2.14. First Quantum Minerals has a 52 week low of C$18.67 and a 52 week high of C$39.27.

First Quantum Minerals Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, May 8th. Shareholders of record on Monday, May 8th were issued a $0.13 dividend. This represents a yield of 0.42%. The ex-dividend date was Friday, April 14th. First Quantum Minerals’s payout ratio is 20.86%.

Insider Buying and Selling at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 11,250 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of C$31.30, for a total transaction of C$352,125.00. In other news, Senior Officer Zenon Wozniak sold 11,250 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of C$31.30, for a total transaction of C$352,125.00. Also, Senior Officer Rudi Badenhorst sold 1,300 shares of First Quantum Minerals stock in a transaction on Monday, March 20th. The stock was sold at an average price of C$27.59, for a total transaction of C$35,867.00. Insiders own 19.71% of the company’s stock.

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.