Stifel Canada Weighs in on OTCMKTS:FQVLF FY2024 Earnings

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Analysts at Stifel Canada upped their FY2024 earnings per share (EPS) estimates for First Quantum Minerals in a research note issued to investors on Tuesday, October 15th. Stifel Canada analyst C. Mcgill now expects that the basic materials company will post earnings of ($0.20) per share for the year, up from their previous forecast of ($0.25). The consensus estimate for First Quantum Minerals’ current full-year earnings is ($0.23) per share.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.04 billion. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 0.57%.

Other equities research analysts have also issued reports about the company. Citigroup raised First Quantum Minerals from a “neutral” rating to a “buy” rating in a research report on Thursday, June 20th. Morgan Stanley downgraded shares of First Quantum Minerals from an “overweight” rating to an “equal weight” rating in a report on Monday, July 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.00.

First Quantum Minerals Stock Down 2.8 %

FQVLF stock opened at $12.62 on Friday. The firm has a market capitalization of $10.53 billion, a PE ratio of -7.43 and a beta of 1.50. The company has a quick ratio of 1.32, a current ratio of 2.68 and a debt-to-equity ratio of 0.49. First Quantum Minerals has a twelve month low of $6.92 and a twelve month high of $23.37. The stock’s 50 day moving average is $12.56 and its 200-day moving average is $12.57.

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.