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

First Quantum Minerals (TSE:FM) posted its quarterly earnings results on Tuesday. The company reported C($0.19) earnings per share (EPS) for the quarter, reports. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The company had revenue of C$2.16 billion for the quarter.

First Quantum Minerals Trading Up 1.2%

TSE:FM opened at C$37.97 on Thursday. First Quantum Minerals has a one year low of C$22.16 and a one year high of C$46.36. The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. The company’s 50-day simple moving average is C$39.93 and its 200 day simple moving average is C$37.75. The firm has a market capitalization of C$31.45 billion, a P/E ratio of -158.21, a PEG ratio of -1.28 and a beta of 1.43.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Kathleen Applegate Hogenson bought 1,073 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of C$37.53 per share, for a total transaction of C$40,269.69. Following the completion of the acquisition, the director owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their ownership of the stock. Also, insider Gavin Ashley sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the sale, the insider directly owned 75,905 shares in the company, valued at approximately C$3,491,630. This represents a 20.85% decrease in their ownership of the stock. 19.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FM shares. Canaccord Genuity Group lowered their price objective on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Stifel Nicolaus boosted their price objective on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Barclays lifted their price objective on First Quantum Minerals from C$42.00 to C$46.00 in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. raised First Quantum Minerals from an “underweight” rating to a “neutral” rating and increased their target price for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$44.96.

First Quantum Minerals Company Profile

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.