Raymond James Comments on First Quantum Minerals Ltd.’s Q2 2024 Earnings (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Equities research analysts at Raymond James raised their Q2 2024 earnings estimates for shares of First Quantum Minerals in a research report issued on Wednesday, May 22nd. Raymond James analyst F. Hamed now forecasts that the basic materials company will earn $0.02 per share for the quarter, up from their prior forecast of $0.01. Raymond James currently has a “Market Perform” rating and a $16.00 price objective on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is ($0.16) per share. Raymond James also issued estimates for First Quantum Minerals’ FY2024 earnings at ($0.07) EPS.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a research report on Monday, March 4th. The Goldman Sachs Group assumed coverage on First Quantum Minerals in a research note on Tuesday, May 21st. They issued a “buy” rating for the company. Finally, BMO Capital Markets downgraded First Quantum Minerals from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 21st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.33.

First Quantum Minerals Trading Up 3.0 %

Shares of FQVLF opened at $13.31 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 2.68. First Quantum Minerals has a 52-week low of $6.92 and a 52-week high of $29.79. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of -7.83 and a beta of 1.75. The business’s fifty day moving average is $12.03 and its 200-day moving average is $10.22.

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

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.