Scotiabank Has Bearish Outlook for TSE:FM FY2026 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Research analysts at Scotiabank decreased their FY2026 earnings estimates for shares of First Quantum Minerals in a research report issued on Friday, April 17th. Scotiabank analyst O. Wowkodaw now anticipates that the company will earn $0.36 per share for the year, down from their previous forecast of $0.67. Scotiabank has a “Outperform” rating and a $45.00 price objective on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$0.01 earnings per share for the quarter. The firm had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative net margin of 0.52% and a negative return on equity of 0.24%.

Several other research analysts have also recently commented on FM. Morgan Stanley lowered their target price on shares of First Quantum Minerals from C$40.00 to C$37.70 in a report on Thursday, April 9th. Jefferies Financial Group raised their target price on shares of First Quantum Minerals from C$38.00 to C$47.00 in a report on Monday, January 12th. Desjardins lifted their price objective on shares of First Quantum Minerals from C$34.00 to C$40.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Stifel Nicolaus lifted their price objective on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research note on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$41.35.

First Quantum Minerals Stock Down 6.4%

First Quantum Minerals stock opened at C$36.83 on Wednesday. The stock has a market cap of C$30.50 billion, a P/E ratio of -1,227.67, a P/E/G ratio of -1.28 and a beta of 1.50. The company has a quick ratio of 1.41, a current ratio of 1.42 and a debt-to-equity ratio of 52.92. First Quantum Minerals has a twelve month low of C$16.30 and a twelve month high of C$45.17. The company’s 50-day moving average price is C$35.57 and its two-hundred day moving average price is C$34.70.

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.