What is Stifel Canada’s Forecast for TSE:FM FY2024 Earnings?

First Quantum Minerals Ltd. (TSE:FM) – Equities research analysts at Stifel Canada lifted their FY2024 EPS estimates for First Quantum Minerals in a research report issued to clients and investors on Tuesday, October 15th. Stifel Canada analyst C. Mcgill now expects that the company will earn ($0.27) per share for the year, up from their previous estimate of ($0.34). The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.37 per share.

A number of other brokerages have also weighed in on FM. Eight Capital upped their price objective on First Quantum Minerals from C$17.00 to C$22.00 in a report on Thursday, July 11th. Scotiabank increased their price target on shares of First Quantum Minerals from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a report on Tuesday, October 8th. Barclays decreased their price objective on shares of First Quantum Minerals from C$18.00 to C$17.00 and set an “equal weight” rating on the stock in a report on Wednesday. CIBC increased their target price on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the company a “neutral” rating in a report on Thursday, June 20th. Finally, Cormark reduced their price target on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating for the company in a research report on Thursday, July 25th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$20.59.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$17.46 on Friday. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$32.02. The company has a 50-day moving average price of C$16.84 and a 200 day moving average price of C$16.98. The company has a market cap of C$14.56 billion, a P/E ratio of -6.87, a PEG ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share for the quarter, beating the consensus estimate of C($0.05) by C$0.02. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. The company had revenue of C$1.68 billion for the quarter, compared to the consensus estimate of C$1.42 billion.

Insider Activity at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. Also, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of C$16.54, for a total transaction of C$264,640.00. 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.