First Quantum Minerals Ltd. (TSE:FM) Expected to Post Q2 2024 Earnings of ($0.05) Per Share

First Quantum Minerals Ltd. (TSE:FM) – Equities research analysts at National Bank Financial issued their Q2 2024 EPS estimates for shares of First Quantum Minerals in a note issued to investors on Wednesday, April 24th. National Bank Financial analyst S. Nagle forecasts that the company will post earnings of ($0.05) per share for the quarter. National Bank Financial currently has a “Outperform Spec Market Weight” rating on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.79 per share. National Bank Financial also issued estimates for First Quantum Minerals’ FY2024 earnings at ($0.05) EPS and FY2026 earnings at $2.61 EPS.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data 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 company had revenue of C$1.66 billion for the quarter, compared to analyst estimates 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%.

A number of other equities analysts have also recently issued reports on FM. JPMorgan Chase & Co. upped their price objective on shares of First Quantum Minerals from C$12.00 to C$18.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Barclays upped their price target on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. UBS Group set a C$16.00 price target on shares of First Quantum Minerals and gave the company a “neutral” rating in a research report on Tuesday, January 16th. TD Securities upped their price target on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Bank of America upped their price objective on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$16.96.

First Quantum Minerals Price Performance

FM stock opened at C$18.27 on Monday. The company has a 50 day simple moving average of C$14.31 and a 200 day simple moving average of C$14.77. The stock has a market cap of C$15.23 billion, a price-to-earnings ratio of -9.77, a P/E/G ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a 1 year low of C$9.31 and a 1 year high of C$39.13. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41.

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.