Scotiabank Issues Pessimistic Outlook for TSE:FM Earnings

First Quantum Minerals Ltd. (TSE:FM) – Equities researchers at Scotiabank dropped their FY2026 earnings per share (EPS) estimates for shares of First Quantum Minerals in a report released on Thursday, February 19th. Scotiabank analyst O. Wowkodaw now expects that the company will post earnings per share of $0.71 for the year, down from their prior forecast of $1.45. Scotiabank has a “Outperform” rating and a $45.00 price target on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share. Scotiabank also issued estimates for First Quantum Minerals’ FY2027 earnings at $2.50 EPS.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.

A number of other analysts have also weighed in on FM. National Bank Financial increased their price objective on shares of First Quantum Minerals from C$42.50 to C$47.00 in a research note on Thursday, January 29th. Barclays cut their price target on First Quantum Minerals from C$44.20 to C$42.90 in a research report on Tuesday, February 17th. Jefferies Financial Group lifted their price objective on First Quantum Minerals from C$38.00 to C$47.00 in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce upped their target price on First Quantum Minerals from C$36.00 to C$46.00 in a research note on Wednesday, February 4th. Finally, Morgan Stanley raised their target price on First Quantum Minerals from C$33.50 to C$36.70 in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Moderate Buy” and a consensus price target of C$41.19.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$37.71 on Monday. First Quantum Minerals has a twelve month low of C$14.41 and a twelve month high of C$45.17. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The company has a market cap of C$31.23 billion, a PE ratio of -1,257.00, a price-to-earnings-growth ratio of -1.28 and a beta of 1.35. The company’s 50 day moving average is C$38.10 and its 200 day moving average is C$31.86.

First Quantum Minerals Company Profile

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.