Stifel Canada Comments on First Quantum Minerals Ltd.’s Q2 2024 Earnings (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) – Equities research analysts at Stifel Canada issued their Q2 2024 earnings estimates for First Quantum Minerals in a research note issued on Monday, July 22nd. Stifel Canada analyst C. Mcgill forecasts that the basic materials company will earn ($0.02) per share for the quarter. The consensus estimate for First Quantum Minerals’ current full-year earnings is ($0.22) per share. Stifel Canada also issued estimates for First Quantum Minerals’ FY2025 earnings at $0.28 EPS.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings data 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 company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.04 billion. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 0.57%.

FQVLF has been the topic of several other reports. BMO Capital Markets downgraded shares of First Quantum Minerals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 21st. Morgan Stanley downgraded shares of First Quantum Minerals from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 8th. The Goldman Sachs Group assumed coverage on shares of First Quantum Minerals in a research note on Tuesday, May 21st. They issued a “buy” rating on the stock. Finally, Citigroup upgraded shares of First Quantum Minerals from a “neutral” rating to a “buy” rating in a research note on Thursday, June 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.50.

First Quantum Minerals Price Performance

Shares of FQVLF opened at $12.10 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.68 and a quick ratio of 1.32. The company’s 50-day moving average is $12.92 and its 200-day moving average is $11.43. First Quantum Minerals has a fifty-two week low of $6.92 and a fifty-two week high of $29.79. The firm has a market capitalization of $10.09 billion, a PE ratio of -7.12 and a beta of 1.57.

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.