First Quantum Minerals (TSE:FM) Releases Quarterly Earnings Results

First Quantum Minerals (TSE:FM) posted its quarterly earnings results on Wednesday. The company reported C$0.41 EPS for the quarter, FiscalAI reports. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%. The company had revenue of C$2.97 billion during the quarter.

First Quantum Minerals Price Performance

FM traded down C$0.17 on Wednesday, reaching C$35.89. The stock had a trading volume of 2,242,386 shares, compared to its average volume of 2,898,245. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 54.66. The company has a market capitalization of C$29.94 billion, a price-to-earnings ratio of -398.78, a price-to-earnings-growth ratio of -1.28 and a beta of 1.47. First Quantum Minerals has a fifty-two week low of C$27.06 and a fifty-two week high of C$49.27. The firm has a 50-day moving average of C$42.08 and a 200-day moving average of C$39.09.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley reduced their price objective on First Quantum Minerals from C$46.30 to C$45.20 in a research note on Wednesday, July 8th. Royal Bank Of Canada increased their target price on shares of First Quantum Minerals from C$45.00 to C$52.00 in a report on Wednesday, September 16th. Raymond James Financial raised their price target on shares of First Quantum Minerals from C$45.00 to C$47.00 and gave the company a “market perform” rating in a research note on Friday, September 4th. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus upped their price objective on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Moderate Buy” and an average price target of C$46.78.

Insider Activity at First Quantum Minerals

In other news, insider Robert Richard Cayton Stone sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$46.63, for a total value of C$932,600.00. Following the completion of the transaction, the insider owned 69,196 shares of the company’s stock, valued at C$3,226,609.48. This represents a 22.42% decrease in their ownership of the stock. Insiders own 19.35% of the company’s stock.

About First Quantum Minerals

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.