Scotiabank Has Positive Forecast for TSE:FM FY2026 Earnings

Key Points

• Scotiabank raised its FY2026 EPS forecast for First Quantum Minerals to C$0.19 from C$0.07, while projecting FY2027 EPS of C$2.24. The FY2026 estimate remains below the broader consensus of C$0.56.
• Analyst sentiment is generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of C$46.78, supported by one Strong Buy, eight Buy, and three Hold ratings.
• First Quantum reported a quarterly loss of C$0.19 per share on C$2.16 billion in revenue. Shares opened at C$37.39, well below their 52-week high of C$49.27, while an insider recently sold 20,000 shares for C$932,600.

First Quantum Minerals Ltd. (TSE:FM - Free Report) - Investment analysts at Scotiabank upped their FY2026 earnings estimates for First Quantum Minerals in a research note issued to investors on Tuesday, October 13th. Scotiabank analyst O. Wowkodaw now forecasts that the company will earn $0.19 per share for the year, up from their previous forecast of $0.07. The consensus estimate for First Quantum Minerals' current full-year earnings is $0.56 per share. Scotiabank also issued estimates for First Quantum Minerals' FY2027 earnings at $2.24 EPS.

First Quantum Minerals (TSE:FM - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported C($0.19) EPS for the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%. The firm had revenue of C$2.16 billion for the quarter.

Several other research analysts have also commented on FM. Raymond James Financial lifted their price target on First Quantum Minerals from C$45.00 to C$47.00 and gave the stock a "market perform" rating in a research report on Friday, September 4th. TD Securities upgraded First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Stifel Nicolaus increased their price objective on First Quantum Minerals from C$52.00 to C$55.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce decreased their price objective on First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. Finally, Barclays raised their target price on shares of First Quantum Minerals from C$42.00 to C$46.00 in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, First Quantum Minerals currently has a consensus rating of "Moderate Buy" and an average price target of C$46.78.

First Quantum Minerals Stock Up 0.2%

Shares of TSE FM opened at C$37.39 on Friday. The stock has a market cap of C$31.19 billion, a PE ratio of -415.44, a price-to-earnings-growth ratio of -1.28 and a beta of 1.47. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 54.66. First Quantum Minerals has a 52-week low of C$27.06 and a 52-week high of C$49.27. The business has a 50-day moving average price of C$43.46 and a 200 day moving average price of C$40.16.

Insiders Place Their Bets

In other First Quantum Minerals news, insider Robert Richard Cayton Stone sold 20,000 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$46.63, for a total value of C$932,600.00. Following the transaction, the insider directly owned 69,196 shares in the company, valued at approximately C$3,226,609.48. This trade represents a 22.42% decrease in their position. Insiders own 19.35% of the company's stock.

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.

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