Stifel Canada Issues Optimistic Estimate for TSE:FM Earnings

First Quantum Minerals Ltd. (TSE:FM) – Research analysts at Stifel Canada lifted their FY2024 earnings per share (EPS) estimates for First Quantum Minerals in a report 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 recently issued research reports about the stock. CIBC raised their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Scotiabank raised their target price on shares of First Quantum Minerals from C$18.50 to C$23.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. National Bankshares boosted their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised 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 report on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and an average price target of C$21.05.

First Quantum Minerals Price Performance

FM opened at C$18.81 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The firm has a market cap of C$15.69 billion, a price-to-earnings ratio of -7.26, a PEG ratio of -1.28 and a beta of 1.73. The stock’s 50-day moving average price is C$18.71 and its 200 day moving average price is C$17.71. First Quantum Minerals has a 12-month low of C$10.31 and a 12-month high of C$21.45.

Insider Activity

In related news, Senior Officer Zenon Wozniak sold 45,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Corporate 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.