FY2024 Earnings Forecast for TSE:FM Issued By Stifel Canada

First Quantum Minerals Ltd. (TSE:FM) – Investment analysts at Stifel Canada upped their FY2024 earnings per share (EPS) estimates for shares of First Quantum Minerals in a note issued to investors on Thursday, January 23rd. Stifel Canada analyst C. Mcgill now expects that the company will earn ($0.07) per share for the year, up from their prior estimate of ($0.14). 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 ($0.23) EPS, FY2026 earnings at $0.50 EPS and FY2027 earnings at $1.22 EPS.

Several other brokerages also recently commented on FM. Canaccord Genuity Group downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$24.00 to C$20.00 in a report on Thursday, January 16th. Jefferies Financial Group decreased their price target on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Royal Bank of Canada upped their price objective on First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. CIBC lifted their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Finally, Barclays raised First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$21.13.

First Quantum Minerals Stock Down 1.0 %

FM opened at C$18.86 on Monday. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45. The firm has a market cap of C$15.73 billion, a P/E ratio of -7.28, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. The business has a 50 day moving average price of C$19.12 and a 200 day moving average price of C$18.00.

Insiders Place Their Bets

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott acquired 1,397 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was purchased at an average cost of C$18.57 per share, with a total value of C$25,942.29. Corporate insiders own 19.35% of the company’s stock.

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.