First Quantum Minerals (TSE:FM) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

First Quantum Minerals (TSE:FM) released its quarterly earnings data on Tuesday. The company reported C$0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01, RTT News reports. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. During the same quarter in the prior year, the firm earned ($0.37) EPS.

First Quantum Minerals Stock Up 0.4 %

Shares of FM opened at C$18.91 on Thursday. The stock’s 50-day moving average price is C$19.12 and its 200-day moving average price is C$18.01. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The company has a market capitalization of C$15.77 billion, a price-to-earnings ratio of -7.30, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 52 week low of C$10.91 and a 52 week high of C$21.45.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley increased their target price on 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. National Bankshares lifted their target price on First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada raised their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Canaccord Genuity Group lowered shares of First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$24.00 to C$20.00 in a research note on Thursday, January 16th. Finally, Barclays cut their price target on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$21.47.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Simon John Scott purchased 1,397 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, December 31st. The stock was bought 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 firm’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 currently owned by corporate insiders.

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.