Scotiabank Has Bullish Estimate for TSE:FM FY2024 Earnings

First Quantum Minerals Ltd. (TSE:FM - Free Report) - Stock analysts at Scotiabank boosted their FY2024 earnings estimates for First Quantum Minerals in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the company will post earnings per share of ($0.16) for the year, up from their previous estimate of ($0.49). Scotiabank currently has a "Sector Perform" rating and a $23.00 target price on the stock. The consensus estimate for First Quantum Minerals' current full-year earnings is $0.56 per share. Scotiabank also issued estimates for First Quantum Minerals' FY2025 earnings at ($0.59) EPS.

Several other equities analysts also recently commented on FM. Barclays raised shares of First Quantum Minerals from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, November 12th. Royal Bank of Canada upped their price target on First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday. Morgan Stanley lifted their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price target on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday. Finally, CIBC lifted 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. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of C$21.05.

First Quantum Minerals Trading Down 4.4 %

FM traded down C$0.92 during trading on Friday, hitting C$19.83. 2,422,419 shares of the stock traded hands, compared to its average volume of 1,766,519. The firm has a market capitalization of C$16.54 billion, a P/E ratio of -7.66, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 12-month low of C$10.91 and a 12-month high of C$21.45. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. The firm has a 50-day moving average of C$18.95 and a 200 day moving average of C$17.81.

Insider Transactions at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott bought 1,397 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was acquired at an average cost of C$18.57 per share, with a total value of C$25,942.29. 19.35% of the stock is owned by 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.