Stifel Canada Has Strong Forecast for TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Analysts at Stifel Canada lifted their FY2024 earnings estimates for shares of First Quantum Minerals in a research report issued to clients and investors on Thursday, January 23rd. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings of ($0.07) per share for the year, up from their previous 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.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Financial Group dropped their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research note on Monday, January 20th. National Bankshares raised their price objective on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. CIBC upped their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Finally, Scotiabank decreased their price target on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Hold” and a consensus price target of C$21.13.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$17.60 on Monday. First Quantum Minerals has a 1 year low of C$10.91 and a 1 year high of C$21.45. 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 company’s 50 day simple moving average is C$19.12 and its 200-day simple moving average is C$17.99. The company has a market capitalization of C$14.68 billion, a price-to-earnings ratio of -6.80, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insider Transactions at First Quantum Minerals

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