First Quantum Minerals EPS Estimates Upgraded by Scotiabank

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) has recently seen an increase in the estimates of its earnings per share (EPS) for the fiscal year 2024. This revision was made by Scotiabank in a report released on January 8th. The analyst O. Wowkodaw from Scotiabank is now projecting that First Quantum Minerals will achieve an EPS of ($0.11) for FY2024, a significant improvement from their earlier estimate of ($0.36). This update contrasts with the current consensus estimate, which is a loss of ($0.12) per share for the full year.

Additionally, Scotiabank has forecasted the earnings for FY2025 at ($0.41) EPS for First Quantum Minerals.

In its latest earnings announcement on October 22nd, First Quantum Minerals reported $0.14 EPS for the quarter. This result exceeded analysts' expectations of $0.02 by a substantial margin of $0.12. The revenue generated by the company during this period was $1.28 billion, surpassing analyst estimates of $1.09 billion. Despite these positive earnings, First Quantum reported a negative net margin of 32.41% and a return on equity (ROE) of -2.69%.

Moreover, Barclays improved its rating for First Quantum Minerals from "hold" to "strong-buy" in a report issued on November 12th. Currently, three analysts have rated the stock as a hold, three assigned a buy rating, and one gave it a strong buy rating. Based on data from MarketBeat, the general consensus on First Quantum Minerals is a "Moderate Buy" with a price target set at $16.00.

First Quantum Minerals Stock Overview

The stock of First Quantum Minerals opened at $13.86 on the trading day. The company boasts a market capitalization of $11.56 billion, a price-to-earnings ratio of -6.22, and a beta of 1.50. Its quick ratio stands at 0.93, while the current ratio is at 1.80, indicating a solid liquidity position. The debt-to-equity ratio of the company is 0.48. Over the past year, FQVLF has seen a low of $8.22 and a high of $15.23. The fifty-day simple moving average is $13.44, and the 200-day simple moving average is $12.93.

Company Profile of First Quantum Minerals

First Quantum Minerals Ltd., along with its subsidiaries, is engaged in the exploration, development, and production of various mineral properties. The company primarily focuses on minerals such as copper, nickel, pyrite, silver, gold, and zinc, and it also produces acid. First Quantum operates mines in several countries, including Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, and is involved in a significant development project in Zambia.

FirstQuantum, Earnings, Scotiabank