FY2024 EPS Estimates for TSE:FM Increased by Analyst

First Quantum Minerals Ltd. (TSE:FM) – National Bank Financial raised their FY2024 earnings estimates for shares of First Quantum Minerals in a research report issued to clients and investors on Tuesday, February 4th. National Bank Financial analyst S. Nagle now forecasts that the company will earn $0.04 per share for the year, up from their prior estimate of $0.03. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share.

Several other analysts have also weighed in on FM. Royal Bank of Canada lifted their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Jefferies Financial Group lowered their price objective on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Morgan Stanley lifted their price target on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. CIBC lifted their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$21.47.

First Quantum Minerals Stock Performance

TSE:FM opened at C$19.19 on Thursday. The company has a fifty day moving average of C$19.09 and a 200-day moving average of C$17.98. The firm has a market capitalization of C$16.01 billion, a P/E ratio of -7.41, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45.

Insiders Place Their Bets

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