Raymond James Weighs in on First Quantum Minerals Ltd.’s Q2 2024 Earnings (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Stock analysts at Raymond James increased their Q2 2024 EPS estimates for First Quantum Minerals in a research report issued on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the basic materials company will earn $0.01 per share for the quarter, up from their previous estimate of ($0.04). Raymond James currently has a “Market Perform” rating and a $16.00 price objective on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is ($0.12) per share. Raymond James also issued estimates for First Quantum Minerals’ Q3 2024 earnings at $0.03 EPS, Q4 2024 earnings at $0.05 EPS and FY2024 earnings at $0.02 EPS.

Separately, Royal Bank of Canada raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

First Quantum Minerals Price Performance

Shares of OTCMKTS:FQVLF opened at $13.37 on Thursday. First Quantum Minerals has a twelve month low of $6.92 and a twelve month high of $29.79. The company’s 50 day moving average is $10.50 and its 200 day moving average is $11.04. The company has a current ratio of 1.72, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. The company has a market cap of $11.14 billion, a PE ratio of -7.86 and a beta of 1.82.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.06). First Quantum Minerals had a negative net margin of 20.02% and a positive return on equity of 0.26%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $931.34 million.

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.