Brokers Offer Predictions for First Quantum Minerals Ltd.’s Q2 2024 Earnings (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Analysts at Raymond James boosted their Q2 2024 earnings estimates for First Quantum Minerals in a research note issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the basic materials company will post earnings of $0.01 per share for the quarter, up from their previous forecast of ($0.04). Raymond James 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 ($0.15) per share. Raymond James also issued estimates for First Quantum Minerals’ Q3 2024 earnings at $0.03 EPS, Q4 2024 earnings at $0.05 EPS and FY2024 earnings at $0.02 EPS.

Separately, 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

First Quantum Minerals Trading Up 1.8 %

Shares of First Quantum Minerals stock opened at $11.86 on Thursday. First Quantum Minerals has a 1 year low of $6.92 and a 1 year high of $29.79. The firm has a market cap of $9.89 billion, a PE ratio of -6.98 and a beta of 1.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.72 and a quick ratio of 0.93. The company has a 50 day simple moving average of $10.41 and a two-hundred day simple moving average of $11.10.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported ($0.20) earnings per share (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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $931.34 million.

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.