Jefferies Financial Group Equities Analysts Reduce Earnings Estimates for First Quantum Minerals Limited (TSE:FM)

First Quantum Minerals Limited (TSE:FM) – Research analysts at Jefferies Financial Group decreased their FY2020 earnings per share (EPS) estimates for First Quantum Minerals in a report issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Lafemina now forecasts that the company will post earnings of $1.76 per share for the year, down from their prior estimate of $2.14. Jefferies Financial Group also issued estimates for First Quantum Minerals’ FY2021 earnings at $1.90 EPS.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Monday, April 29th. The company reported C$0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of C$0.19. The company had revenue of C$1.14 billion during the quarter, compared to analyst estimates of C$1.28 billion.

Several other research analysts also recently weighed in on the company. Citigroup downgraded First Quantum Minerals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from C$18.00 to C$13.00 in a research note on Tuesday, May 21st. Canaccord Genuity reduced their price objective on Trevali Mining from C$0.75 to C$0.65 in a research note on Monday, April 15th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a GBX 650 ($8.49) price objective on shares of in a research note on Thursday, June 20th. Royal Bank of Canada reissued an “average” rating and issued a $48.00 price objective on shares of in a research note on Thursday, June 27th. Finally, Deutsche Bank set a $28.00 price objective on Colfax and gave the company a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$16.03.

Shares of TSE:FM opened at C$11.43 on Thursday. First Quantum Minerals has a 12-month low of C$9.45 and a 12-month high of C$20.63. The firm has a market capitalization of $7.50 billion and a P/E ratio of 17.58. The firm has a 50 day moving average of C$11.15. The company has a debt-to-equity ratio of 87.75, a current ratio of 2.10 and a quick ratio of 1.25.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

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Earnings History and Estimates for First Quantum Minerals (TSE:FM)

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