First Quantum Minerals (TSE:FM) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Quantum Minerals (TSE:FM - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported C$0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.03 by C$0.01, RTT News reports. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter in the prior year, the company posted ($0.37) earnings per share.

First Quantum Minerals Stock Down 1.5 %

Shares of TSE FM traded down C$0.29 during midday trading on Friday, hitting C$19.56. The stock had a trading volume of 1,722,640 shares, compared to its average volume of 2,095,261. The company has a market cap of C$11.10 billion, a P/E ratio of -7.23, a PEG ratio of -1.28 and a beta of 1.73. The business's 50 day moving average is C$19.10 and its 200-day moving average is C$18.02. First Quantum Minerals has a 52 week low of C$10.91 and a 52 week high of C$21.45. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

Analysts Set New Price Targets

FM has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research note on Thursday, January 30th. Scotiabank lowered 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 note on Thursday, January 16th. Canaccord Genuity Group cut shares of First Quantum Minerals from a "buy" rating to a "hold" rating and decreased their price objective for the company from C$24.00 to C$20.00 in a research report on Thursday, January 16th. National Bankshares boosted 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 report on Thursday, October 24th. Finally, Jefferies Financial Group decreased their price objective on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$21.57.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 45,000 shares of the 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 value of C$914,400.00. Also, Director Simon John Scott purchased 1,397 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was acquired at an average price of C$18.57 per share, for a total transaction of C$25,942.29. 19.35% of the stock is owned by insiders.

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.