JPMorgan Chase – Research Analysts Issue Forecasts for First Quantum Minerals Ltd.’s Q1 2021 Earnings (TSE:FM)
First Quantum Minerals Ltd. (TSE:FM) – Analysts at Raymond James cut their Q1 2021 earnings estimates for shares of First Quantum Minerals in a note issued to investors on Thursday, February 25th. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $0.36 per share for the quarter, down from their previous forecast of $0.52. Raymond James has a “Market Perform” rating and a $35.00 price target on the stock. Raymond James also issued estimates for First Quantum Minerals’ Q2 2021 earnings at $0.35 EPS, Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.45 EPS and FY2021 earnings at $1.56 EPS.
A number of other equities research analysts also recently issued reports on FM. JPMorgan Chase & Co. downgraded shares of First Quantum Minerals from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from C$13.00 to C$21.00 in a research report on Thursday, January 14th. Royal Bank of Canada reissued an “outperform” rating and set a C$31.00 price objective on shares of First Quantum Minerals in a research report on Thursday, February 18th. Eight Capital boosted their price objective on shares of First Quantum Minerals to C$31.00 and gave the company a “market perform” rating in a research report on Friday, January 22nd. Morgan Stanley boosted their price objective on shares of First Quantum Minerals from C$18.00 to C$22.50 in a research report on Thursday, December 10th. Finally, National Bank Financial boosted their price objective on shares of First Quantum Minerals from C$28.50 to C$29.00 and gave the company an “outperform” rating in a research report on Friday, February 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. First Quantum Minerals currently has a consensus rating of “Hold” and an average price target of C$25.12.
Shares of FM stock opened at C$27.43 on Monday. First Quantum Minerals has a 1 year low of C$4.71 and a 1 year high of C$31.57. The firm has a fifty day moving average price of C$24.62 and a 200-day moving average price of C$18.04. The company has a debt-to-equity ratio of 96.82, a current ratio of 1.28 and a quick ratio of 0.69. The company has a market cap of C$18.88 billion and a price-to-earnings ratio of -105.10.
In other First Quantum Minerals news, Senior Officer Hannes Meyer sold 25,602 shares of the business’s stock in a transaction on Wednesday, December 9th. The shares were sold at an average price of C$19.89, for a total value of C$509,223.78. Following the sale, the insider now owns 82,997 shares in the company, valued at approximately C$1,650,810.33. Also, Senior Officer Zenon Wozniak sold 15,002 shares of the business’s stock in a transaction on Monday, December 21st. The stock was sold at an average price of C$21.19, for a total transaction of C$317,856.38. Following the completion of the sale, the insider now owns 21,287 shares in the company, valued at approximately C$451,020.44.
About First Quantum Minerals
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates mines, including the Ravensthorpe nickel and cobalt mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Ãayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the PyhÃ¤salmi copper, pyrite, zinc mine in Finland.
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