Raymond James Weighs in on First Quantum Minerals Ltd.’s Q3 2024 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Research analysts at Raymond James increased their Q3 2024 earnings per share estimates for shares of First Quantum Minerals in a note issued to investors on Wednesday, May 22nd. Raymond James analyst F. Hamed now expects that the company will earn $0.07 per share for the quarter, up from their previous estimate of $0.04. The consensus estimate for First Quantum Minerals’ current full-year earnings is $1.01 per share. Raymond James also issued estimates for First Quantum Minerals’ Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.60 EPS and Q4 2025 earnings at $0.61 EPS.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C($0.19) by C($0.08). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The business had revenue of C$1.40 billion during the quarter, compared to the consensus estimate of C$1.25 billion.

A number of other equities research analysts have also recently weighed in on the company. Stifel Nicolaus set a C$14.00 price objective on First Quantum Minerals and gave the stock a “hold” rating in a research note on Tuesday, March 26th. CIBC raised their price target on shares of First Quantum Minerals from C$14.00 to C$15.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. BMO Capital Markets lowered shares of First Quantum Minerals from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from C$17.00 to C$19.00 in a research note on Tuesday. National Bankshares upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$15.00 to C$16.50 in a research note on Friday, March 1st. Finally, Royal Bank of Canada raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Hold” and a consensus target price of C$17.25.

First Quantum Minerals Stock Performance

Shares of TSE:FM opened at C$18.10 on Friday. The firm has a 50 day moving average of C$16.42 and a 200 day moving average of C$13.90. The company has a quick ratio of 1.41, a current ratio of 2.68 and a debt-to-equity ratio of 52.05. The company has a market capitalization of C$15.09 billion, a price-to-earnings ratio of -7.84, a price-to-earnings-growth ratio of -1.28 and a beta of 1.96. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$39.13.

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.