First Quantum Minerals Ltd. (TSE:FM) Forecasted to Earn Q2 2024 Earnings of $0.01 Per Share

First Quantum Minerals Ltd. (TSE:FM) – Equities research analysts at Raymond James increased their Q2 2024 earnings per share estimates for shares of First Quantum Minerals in a note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the company will earn $0.01 per share for the quarter, up from their prior estimate of ($0.06). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.79 per share. Raymond James also issued estimates for First Quantum Minerals’ Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.07 EPS and FY2024 earnings at $0.03 EPS.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). The business had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%.

Several other equities analysts also recently weighed in on FM. Scotiabank dropped their price objective on First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating for the company in a research note on Thursday, February 22nd. Eight Capital raised their price objective on First Quantum Minerals from C$16.00 to C$17.00 and gave the company a “neutral” rating in a research note on Monday. TD Securities raised their price objective on First Quantum Minerals from C$17.00 to C$18.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group set a C$16.00 price objective on First Quantum Minerals and gave the company a “neutral” rating in a research note on Tuesday, January 16th. Finally, Canaccord Genuity Group dropped their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating for the company in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$16.96.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$16.24 on Thursday. The company has a market cap of C$13.54 billion, a price-to-earnings ratio of -8.68, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The stock has a 50 day simple moving average of C$14.19 and a 200-day simple moving average of C$15.08. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$39.13. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21.

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.