TSE:FM Q3 EPS Estimate Reduced by National Bank Financial

First Quantum Minerals Ltd. (TSE:FM) – Equities research analysts at National Bank Financial lowered their Q3 2024 EPS estimates for First Quantum Minerals in a report released on Monday, October 14th. National Bank Financial analyst S. Nagle now anticipates that the company will earn ($0.05) per share for the quarter, down from their previous forecast of $0.21. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.37 per share. National Bank Financial also issued estimates for First Quantum Minerals’ FY2024 earnings at ($0.26) EPS and FY2025 earnings at $0.64 EPS.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group increased their price target on First Quantum Minerals from C$22.00 to C$25.00 in a report on Monday, July 22nd. Jefferies Financial Group raised their target price on First Quantum Minerals from C$19.50 to C$23.00 in a report on Monday, July 8th. Morgan Stanley lifted their price target on First Quantum Minerals from C$19.40 to C$20.20 in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$19.00 to C$26.00 in a research note on Wednesday, June 26th. Finally, National Bankshares cut their price target on First Quantum Minerals from C$22.00 to C$21.00 and set an “outperform” rating for the company in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, First Quantum Minerals has an average rating of “Hold” and a consensus target price of C$20.59.

First Quantum Minerals Stock Performance

Shares of FM opened at C$17.46 on Thursday. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The company’s 50 day simple moving average is C$16.83 and its 200-day simple moving average is C$16.96. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$32.02. The firm has a market cap of C$14.56 billion, a PE ratio of -6.95, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.05) by C$0.02. The business had revenue of C$1.68 billion for the quarter, compared to analyst estimates of C$1.42 billion. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. Also, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of C$16.54, for a total transaction of C$264,640.00. 19.35% of the stock is owned by insiders.

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.