Desjardins Issues Pessimistic Outlook for TSE:FM Earnings

Key Points

• Desjardins has reduced their FY2027 earnings per share (EPS) estimate for First Quantum Minerals from $2.75 to $2.67, maintaining a "Hold" rating on the stock.
• A majority of analysts currently rate First Quantum Minerals as a Moderate Buy, with target prices raised by institutions like Royal Bank of Canada to C$25.00.
• The stock is currently trading at C$23.29, with a market capitalization of C$13.22 billion and insider ownership at 19.35%.

First Quantum Minerals Ltd. (TSE:FM - Free Report) - Desjardins lowered their FY2027 earnings per share estimates for First Quantum Minerals in a research note issued on Wednesday, July 30th. Desjardins analyst B. Adams now expects that the company will earn $2.67 per share for the year, down from their previous estimate of $2.75. The consensus estimate for First Quantum Minerals' current full-year earnings is $0.56 per share.

FM has been the subject of a number of other reports. Morgan Stanley decreased their price target on shares of First Quantum Minerals from C$19.70 to C$19.40 in a research report on Wednesday, April 9th. Scotiabank raised their price target on shares of First Quantum Minerals from C$22.50 to C$24.00 in a research report on Monday, June 16th. Raymond James Financial raised shares of First Quantum Minerals to a "hold" rating in a research note on Monday, June 30th. National Bankshares upped their price target on shares of First Quantum Minerals from C$24.00 to C$27.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Barclays increased their price objective on shares of First Quantum Minerals from C$25.80 to C$26.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals has an average rating of "Moderate Buy" and an average target price of C$22.35.

First Quantum Minerals Stock Performance

FM traded up C$1.20 during trading on Friday, reaching C$23.38. The company's stock had a trading volume of 1,819,837 shares, compared to its average volume of 2,488,503. The company's fifty day moving average price is C$22.67 and its 200-day moving average price is C$20.15. The company has a market capitalization of C$13.27 billion, a price-to-earnings ratio of -8.64, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. First Quantum Minerals has a 52-week low of C$13.81 and a 52-week high of C$25.96.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 8,135 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of C$22.82, for a total transaction of C$185,640.70. Also, Director Alison Cheryl Beckett acquired 1,029 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were bought at an average cost of C$24.59 per share, with a total value of C$25,307.84. Corporate insiders own 19.35% of the company's stock.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company's principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.