First Quantum Minerals (FM) Scheduled to Post Quarterly Earnings on Tuesday

First Quantum Minerals (TSE:FM) will be announcing its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of C$0.04 per share for the quarter.

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

First Quantum Minerals Price Performance

Shares of TSE FM opened at C$18.31 on Tuesday. 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 stock has a fifty day simple moving average of C$16.77 and a two-hundred day simple moving average of C$16.92. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$32.47. The firm has a market cap of C$15.27 billion, a price-to-earnings ratio of -7.21, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FM shares. Scotiabank upped their price objective on First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a report on Tuesday, October 8th. Jefferies Financial Group boosted their price objective on shares of First Quantum Minerals from C$19.50 to C$23.00 in a report on Monday, July 8th. Cormark reduced their target price on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a report on Thursday, July 25th. Citigroup raised shares of First Quantum Minerals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$14.00 to C$26.00 in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. raised their price objective on First Quantum Minerals from C$18.00 to C$20.00 in a research note on Thursday, October 10th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$20.41.

Insider Activity

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

About First Quantum Minerals

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.