Q3 EPS Estimates for TSE:FM Cut by National Bank Financial

First Quantum Minerals Ltd. (TSE:FM - Free Report) - Equities research analysts at National Bank Financial dropped their Q3 2024 EPS estimates for shares of First Quantum Minerals in a note issued to investors on Monday, October 14th. National Bank Financial analyst S. Nagle now forecasts that the company will post earnings of ($0.05) per share for the quarter, down from their previous estimate of $0.21. The consensus estimate for First Quantum Minerals' current full-year earnings is $0.37 per share. National Bank Financial also issued estimates for First Quantum Minerals' FY2024 earnings at ($0.26) EPS and FY2025 earnings at $0.64 EPS.

A number of other analysts have also recently weighed in on FM. Cormark decreased their target price on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a "buy" rating on the stock in a research note on Thursday, July 25th. Citigroup upgraded First Quantum Minerals from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from C$14.00 to C$26.00 in a research report on Thursday, June 20th. Barclays dropped their target price on First Quantum Minerals from C$18.00 to C$17.00 and set an "equal weight" rating for the company in a research report on Wednesday. CIBC boosted their price target on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a "neutral" rating in a report on Thursday, June 20th. Finally, Morgan Stanley raised their price objective on shares of First Quantum Minerals from C$19.40 to C$20.20 in a report on Thursday, September 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals has a consensus rating of "Hold" and a consensus price target of C$20.59.

First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock traded down C$0.43 during midday trading on Thursday, hitting C$17.46. 1,285,619 shares of the company traded hands, compared to its average volume of 2,679,254. The stock has a market cap of C$14.56 billion, a price-to-earnings ratio of -6.95, a PEG ratio of -1.28 and a beta of 1.73. 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 firm's fifty day moving average price is C$16.83 and its 200-day moving average price is C$16.96. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$32.02.

First Quantum Minerals (TSE:FM - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.05) by C$0.02. The firm had revenue of C$1.68 billion during the quarter, compared to the consensus estimate of C$1.42 billion. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the firm's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the company's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. 19.35% of the stock is owned by corporate 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.