Stifel Canada Has Strong Estimate for TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Stock analysts at Stifel Canada raised their FY2024 earnings per share (EPS) estimates for First Quantum Minerals in a research note issued to investors on Sunday, December 15th. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings of ($0.14) per share for the year, up from their prior estimate 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 research analysts have also issued reports about the stock. CIBC lifted their price objective on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. Royal Bank of Canada raised their price objective on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Scotiabank upped their target price on First Quantum Minerals from C$18.50 to C$23.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, First Quantum Minerals presently has an average rating of “Hold” and a consensus price target of C$21.05.

First Quantum Minerals Stock Up 1.1 %

Shares of TSE 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. First Quantum Minerals has a 12-month low of C$10.31 and a 12-month high of C$21.45. The firm’s 50-day moving average price is C$18.71 and its 200-day moving average price is C$17.71. The stock has a market capitalization of C$15.69 billion, a price-to-earnings ratio of -7.26, a P/E/G ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. 19.35% of the stock is owned by company 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.