Brokers Issue Forecasts for First Quantum Minerals Limited’s Q4 2016 Earnings (FM)
First Quantum Minerals Limited (TSE:FM) – Analysts at Raymond James Financial cut their Q4 2016 earnings per share estimates for shares of First Quantum Minerals Limited in a note issued to investors on Thursday. Raymond James Financial analyst A. Terentiew now anticipates that the firm will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.07. Raymond James Financial also issued estimates for First Quantum Minerals Limited’s Q1 2017 earnings at $0.08 EPS, Q2 2017 earnings at $0.11 EPS, Q3 2017 earnings at $0.13 EPS, Q4 2017 earnings at $0.11 EPS and FY2017 earnings at $0.44 EPS.
FM has been the subject of a number of other research reports. Jefferies Group set a C$14.00 price objective on First Quantum Minerals Limited and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Canaccord Genuity upped their price objective on First Quantum Minerals Limited from C$11.75 to C$13.50 in a research note on Friday, July 29th. BNP Paribas set a C$8.60 price objective on First Quantum Minerals Limited in a research note on Friday, July 29th. Cormark upgraded First Quantum Minerals Limited from a “market perform” rating to a “buy” rating in a research note on Tuesday, August 2nd. Finally, Goldman Sachs Group Inc. upped their price objective on First Quantum Minerals Limited from C$5.50 to C$5.75 and gave the company a “sell” rating in a research note on Wednesday, August 3rd. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of C$10.18.
First Quantum Minerals Limited (TSE:FM) opened at 10.65 on Monday. First Quantum Minerals Limited has a 1-year low of $2.15 and a 1-year high of $12.34. The firm’s market cap is $7.30 billion. The company has a 50-day moving average price of $10.55 and a 200-day moving average price of $9.65.
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About First Quantum Minerals Limited
First Quantum Minerals Ltd. is an international mining company. The Company is engaged in mineral exploration, mine engineering and construction, development and mining. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements (PGE) and pyrite. Its operations and development projects are located in Zambia, Mauritania, Spain, Turkey, Finland, Australia, Panama, Peru and Argentina.
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