National Bank Financial Forecasts TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Equities research analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for First Quantum Minerals in a research note issued to investors on Tuesday, February 4th. National Bank Financial analyst S. Nagle now expects that the company will post earnings of $0.04 per share for the year, up from their previous forecast of $0.03. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share.

Several other brokerages have also issued reports on FM. JPMorgan Chase & Co. decreased their target price on First Quantum Minerals from C$18.00 to C$17.00 in a research report on Thursday, January 30th. Barclays decreased their price objective on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Canaccord Genuity Group cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their target price for the company from C$24.00 to C$20.00 in a research note on Thursday, January 16th. CIBC raised their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group dropped their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$21.47.

First Quantum Minerals Stock Performance

Shares of FM opened at C$19.38 on Thursday. The stock has a 50 day moving average of C$19.10 and a 200 day moving average of C$17.98. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 12 month low of C$10.91 and a 12 month high of C$21.45. The company has a market capitalization of C$16.16 billion, a price-to-earnings ratio of -7.48, a PEG ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott bought 1,397 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was acquired at an average price of C$18.57 per share, for a total transaction of C$25,942.29. Company insiders own 19.35% of the company’s stock.

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.