Q3 2024 EPS Estimates for First Quantum Minerals Ltd. Reduced by National Bank Financial (TSE:FM)

First Quantum Minerals Ltd. (TSE:FM) – Equities researchers at National Bank Financial dropped their Q3 2024 EPS estimates for shares of First Quantum Minerals in a note issued to investors on Monday, October 14th. National Bank Financial analyst S. Nagle now forecasts that the company will post earnings of ($0.05) per share for the quarter, down from their previous estimate 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 have also issued reports about the stock. Jefferies Financial Group boosted their target price on shares of First Quantum Minerals from C$19.50 to C$23.00 in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$19.00 to C$26.00 in a research report on Wednesday, June 26th. Royal Bank of Canada dropped their price target on shares of First Quantum Minerals from C$25.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Citigroup upgraded 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 report on Thursday, June 20th. Finally, National Bankshares dropped their price target on shares of First Quantum Minerals from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$20.59.

First Quantum Minerals Trading Up 2.4 %

FM opened at C$17.89 on Thursday. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$32.28. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. The firm has a market capitalization of C$14.92 billion, a price-to-earnings ratio of -7.04, a PEG ratio of -1.28 and a beta of 1.73. The company’s 50 day moving average price is C$16.79 and its two-hundred day moving average price is C$16.94.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share 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 firm had revenue of C$1.68 billion for the quarter, compared to analyst estimates of C$1.42 billion.

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 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 business’s 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 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. 19.35% of the stock is owned by corporate 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.