Brokers Set Expectations for First Quantum Minerals Ltd.’s Q3 2024 Earnings (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Analysts at Raymond James boosted their Q3 2024 earnings per share estimates for shares of First Quantum Minerals in a research report issued to clients and investors on Wednesday, May 22nd. Raymond James analyst F. Hamed now forecasts that the basic materials company will post earnings per share of $0.05 for the quarter, up from their previous estimate of $0.03. Raymond James has a “Market Perform” rating and a $16.00 price target on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is ($0.15) per share. Raymond James also issued estimates for First Quantum Minerals’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.45 EPS and FY2025 earnings at $1.00 EPS.

FQVLF has been the topic of a number of other research reports. BMO Capital Markets cut First Quantum Minerals from an “outperform” rating to a “market perform” rating in a research note on Tuesday. The Goldman Sachs Group assumed coverage on shares of First Quantum Minerals in a research note on Tuesday. They issued a “buy” rating for the company. Finally, Royal Bank of Canada upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a research note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.33.

First Quantum Minerals Price Performance

OTCMKTS FQVLF opened at $13.31 on Friday. The firm’s 50 day moving average is $12.03 and its 200-day moving average is $10.25. The company has a quick ratio of 0.93, a current ratio of 1.72 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $11.09 billion, a PE ratio of -7.83 and a beta of 1.75. First Quantum Minerals has a 12-month low of $6.92 and a 12-month high of $29.79.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $931.34 million. First Quantum Minerals had a negative net margin of 20.02% and a positive return on equity of 0.26%.

First Quantum Minerals Company Profile

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.