National Bank Financial Predicts TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Research analysts at National Bank Financial increased their FY2024 EPS estimates for shares of First Quantum Minerals in a report issued on Wednesday, October 23rd. National Bank Financial analyst S. Nagle now expects that the company will post earnings per share of $0.00 for the year, up from their prior estimate of ($0.26). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share. National Bank Financial also issued estimates for First Quantum Minerals’ Q4 2024 earnings at $0.08 EPS and Q1 2025 earnings at $0.35 EPS.

A number of other analysts also recently commented on the company. Barclays decreased their target price on First Quantum Minerals from C$18.00 to C$17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Cormark decreased their price objective on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a research report on Thursday, July 25th. CIBC raised their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. National Bankshares upped their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on shares of First Quantum Minerals from C$19.40 to C$20.20 in a research note on Thursday, September 19th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$20.83.

First Quantum Minerals Stock Performance

FM opened at C$18.91 on Monday. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$28.80. The stock has a market cap of C$15.77 billion, a P/E ratio of -7.58, a P/E/G ratio of -1.28 and a beta of 1.73. The stock’s 50 day simple moving average is C$17.15 and its 200 day simple moving average is C$17.14. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. 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.