National Bank Financial Predicts TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM - Free Report) - Stock analysts at National Bank Financial raised their FY2024 earnings per share estimates for First Quantum Minerals in a research note issued on Tuesday, February 4th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $0.04 for the year, up from their previous estimate of $0.03. The consensus estimate for First Quantum Minerals' current full-year earnings is $0.56 per share.

A number of other research firms have also recently issued reports on FM. Barclays lowered their price objective on First Quantum Minerals from C$25.00 to C$23.40 in a research report on Thursday, January 30th. Scotiabank reduced their price objective 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 report on Thursday, January 16th. Canaccord Genuity Group cut shares of First Quantum Minerals from a "buy" rating to a "hold" rating and lowered their target price for the company from C$24.00 to C$20.00 in a research note on Thursday, January 16th. CIBC raised their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group lowered their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$21.47.

First Quantum Minerals Stock Performance

FM traded up C$0.54 on Thursday, hitting C$19.92. 2,377,522 shares of the stock traded hands, compared to its average volume of 2,032,738. The business has a fifty day moving average price of C$19.12 and a two-hundred day moving average price of C$17.99. 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 52 week low of C$10.91 and a 52 week high of C$21.45. The firm has a market capitalization of C$16.61 billion, a PE ratio of -7.69, a P/E/G ratio of -1.28 and a beta of 1.73.

Insiders Place Their Bets

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction 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. Also, Director Simon John Scott acquired 1,397 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was bought at an average cost of C$18.57 per share, for a total transaction 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.