First Quantum Minerals Ltd. to Post Q1 2024 Earnings of ($0.10) Per Share, Raymond James Forecasts (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Equities researchers at Raymond James dropped their Q1 2024 earnings per share (EPS) estimates for shares of First Quantum Minerals in a report released on Wednesday, April 17th. Raymond James analyst F. Hamed now expects that the company will post earnings per share of ($0.10) for the quarter, down from their prior forecast of ($0.04). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.79 per share. Raymond James also issued estimates for First Quantum Minerals’ Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at ($0.01) EPS and FY2024 earnings at ($0.15) EPS.

First Quantum Minerals (TSE:FM) last announced its earnings results 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). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion.

A number of other equities analysts also recently commented on FM. Barclays boosted their price objective on First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on First Quantum Minerals from C$12.00 to C$18.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Jefferies Financial Group upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their target price for the stock from C$13.00 to C$18.00 in a research report on Thursday, February 22nd. National Bankshares upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$15.00 to C$16.50 in a research report on Friday, March 1st. Finally, BMO Capital Markets raised their target price on shares of First Quantum Minerals from C$7.50 to C$8.50 in a research note on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and a consensus target price of C$16.08.

First Quantum Minerals Price Performance

TSE:FM opened at C$15.93 on Monday. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$39.13. The stock’s fifty day moving average is C$13.94 and its two-hundred day moving average is C$15.17. The company has a market capitalization of C$13.28 billion, a P/E ratio of -8.52, a P/E/G ratio of -1.28 and a beta of 2.01. The company has a quick ratio of 1.41, a current ratio of 1.72 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.