FY2022 EPS Estimates for First Quantum Minerals Ltd. (TSE:FM) Lifted by Analyst

First Quantum Minerals Ltd. (TSE:FM – Get Rating) – Equities research analysts at Raymond James upped their FY2022 earnings per share (EPS) estimates for shares of First Quantum Minerals in a report issued on Tuesday, January 17th. Raymond James analyst F. Hamed now forecasts that the company will earn $1.98 per share for the year, up from their prior forecast of $1.88. Raymond James has a “Market Perform” rating and a $26.00 price objective on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $1.49 per share. Raymond James also issued estimates for First Quantum Minerals’ FY2023 earnings at $1.26 EPS.

First Quantum Minerals (TSE:FM – Get Rating) last released its earnings results on Tuesday, October 25th. The company reported C$0.18 EPS for the quarter, missing the consensus estimate of C$0.27 by C($0.09). The firm had revenue of C$2.25 billion during the quarter, compared to the consensus estimate of C$2.23 billion.

Several other research firms have also recently commented on FM. Jefferies Financial Group reduced their target price on First Quantum Minerals from C$37.00 to C$35.00 in a research note on Tuesday. Morgan Stanley lowered First Quantum Minerals to a “sell” rating and set a C$23.00 price target on the stock. in a research report on Tuesday, October 18th. TD Securities dropped their price target on First Quantum Minerals from C$32.00 to C$31.00 and set a “hold” rating on the stock in a research report on Tuesday. Scotiabank dropped their price target on First Quantum Minerals from C$39.00 to C$36.00 in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on First Quantum Minerals from C$36.00 to C$37.00 in a research report on Tuesday, January 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and an average price target of C$31.05.

First Quantum Minerals Stock Performance

First Quantum Minerals stock opened at C$30.56 on Friday. The stock has a market cap of C$21.16 billion and a P/E ratio of 13.40. The company has a current ratio of 2.43, a quick ratio of 1.41 and a debt-to-equity ratio of 67.97. The stock has a 50 day moving average of C$30.11 and a 200-day moving average of C$25.95. First Quantum Minerals has a 52 week low of C$18.67 and a 52 week high of C$45.38.

Insider Transactions at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 30,965 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of C$30.90, for a total value of C$956,818.50. Following the completion of the transaction, the insider now owns 49,161 shares of the company’s stock, valued at C$1,519,074.90.

About First Quantum Minerals

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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.