Stifel Canada Has Strong Forecast for TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Equities research analysts at Stifel Canada upped their FY2024 earnings per share estimates for First Quantum Minerals in a research note issued on Sunday, December 15th. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings per share of ($0.14) for the year, up from their previous forecast of ($0.27). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share. Stifel Canada also issued estimates for First Quantum Minerals’ FY2025 earnings at ($0.14) EPS, FY2026 earnings at $0.40 EPS and FY2027 earnings at $1.48 EPS.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price objective on First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. Scotiabank upped their price target on First Quantum Minerals from C$18.50 to C$23.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Morgan Stanley raised their price objective on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. National Bankshares boosted their target price on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada increased their price target on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, First Quantum Minerals has a consensus rating of “Hold” and a consensus price target of C$21.05.

First Quantum Minerals Stock Down 2.0 %

Shares of First Quantum Minerals stock opened at C$17.41 on Wednesday. First Quantum Minerals has a 12-month low of C$10.34 and a 12-month high of C$21.45. 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 stock has a 50 day moving average price of C$18.70 and a two-hundred day moving average price of C$17.70. The stock has a market capitalization of C$14.52 billion, a P/E ratio of -6.72, a PEG ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling

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