Q2 2024 EPS Estimates for First Quantum Minerals Ltd. Increased by Raymond James (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Investment analysts at Raymond James increased their Q2 2024 earnings per share (EPS) estimates for First Quantum Minerals in a note issued to investors on Wednesday, May 22nd. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.03 for the quarter, up from their prior estimate of $0.01. The consensus estimate for First Quantum Minerals’ current full-year earnings is $1.01 per share. Raymond James also issued estimates for First Quantum Minerals’ FY2024 earnings at ($0.10) EPS and FY2025 earnings at $1.36 EPS.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. The business had revenue of C$1.40 billion for the quarter, compared to the consensus estimate of C$1.25 billion.

Several other research analysts also recently commented on the company. Scotiabank cut their target price on First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating on the stock in a report on Thursday, February 22nd. Eight Capital lifted their price objective on First Quantum Minerals from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$18.90 to C$19.80 in a research report on Wednesday, May 8th. TD Securities raised their price target on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Finally, CIBC upped their price objective on shares of First Quantum Minerals from C$14.00 to C$15.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and an average price target of C$17.25.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$18.10 on Monday. The firm has a market cap of C$15.09 billion, a PE ratio of -7.84, a price-to-earnings-growth ratio of -1.28 and a beta of 1.96. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$39.13. The firm’s fifty day moving average is C$16.42 and its 200-day moving average is C$13.89. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68.

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.