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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Analysts at Raymond James raised their Q2 2024 EPS estimates for shares of First Quantum Minerals in a research note issued to investors 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 forecast of ($0.04). Raymond James has a “Market Perform” rating and a $16.00 price target 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 upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Moderate Buy” and an average price target of $33.33.

First Quantum Minerals Trading Up 12.7 %

OTCMKTS:FQVLF opened at $13.37 on Thursday. 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 stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of -7.86 and a beta of 1.82. The firm has a fifty day simple moving average of $10.50 and a two-hundred day simple moving average of $11.04. First Quantum Minerals has a 12 month low of $6.92 and a 12 month high of $29.79.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings results 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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.