What is Scotiabank’s Forecast for TSE:FM FY2024 Earnings?

First Quantum Minerals Ltd. (TSE:FM) – Analysts at Scotiabank lifted their FY2024 earnings per share (EPS) estimates for First Quantum Minerals in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the company will post earnings of ($0.16) per share for the year, up from their previous estimate of ($0.49). Scotiabank currently has a “Sector Perform” rating and a $23.00 target price on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share. Scotiabank also issued estimates for First Quantum Minerals’ FY2025 earnings at ($0.59) EPS.

FM has been the topic of several other reports. Royal Bank of Canada lifted their target price on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday. Morgan Stanley upped their price objective 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 note on Thursday, December 12th. Jefferies Financial Group dropped their target price on shares of First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. CIBC boosted their price target on First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Finally, Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$21.05.

First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock opened at C$19.83 on Friday. The stock has a market capitalization of C$16.54 billion, a P/E ratio of -7.66, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a one year low of C$10.91 and a one year high of C$21.45. 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 business’s 50 day simple moving average is C$18.95 and its two-hundred day simple moving average is C$17.81.

Insider Transactions at First Quantum Minerals

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