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    First Quantum Minerals Projected to Achieve Strong Earnings Growth in 2023

    ByByron Bekker

    Nov 11, 2023
    First Quantum Minerals Projected to Achieve Strong Earnings Growth in 2023

    First Quantum Minerals Ltd. (TSE:FM) is expected to see a significant increase in earnings for the fiscal year 2023, according to a recent forecast by Raymond James. The research analysts at Raymond James have raised their earnings estimate for the company to $1.63 per share, up from their previous projection of $1.42 per share.

    This positive outlook reflects the company’s strong performance and potential for growth in the coming years. First Quantum Minerals has been actively exploring, developing, and producing various mineral properties, with a primary focus on copper, nickel, pyrite, silver, gold, and zinc ores.

    In addition to the strong earnings projection, Raymond James has given First Quantum Minerals a “Market Perform” rating and a price objective of $24.00 per share. The consensus estimate for the company’s current full-year earnings stands at $2.00 per share.

    Other analysts have also issued research reports on First Quantum Minerals. Despite some reductions in price targets, the overall sentiment remains positive. The company currently has a consensus rating of “Hold” and an average price target of C$29.91.

    Shares of First Quantum Minerals opened at C$15.72 on Friday, with a 12-month low of C$13.66 and a 12-month high of C$39.13. The stock has a market capitalization of C$10.90 billion and operates mines in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania.

    First Quantum Minerals’ strong financial performance was highlighted in its recent earnings report. The company reported earnings per share of C$0.70 for the quarter, surpassing the consensus estimate of C$0.34. Additionally, First Quantum Minerals generated revenue of C$2.72 billion, exceeding analysts’ expectations of C$2.68 billion.

    As part of its financial strategy, First Quantum Minerals recently announced a semi-annual dividend. Stockholders of record on September 19th were issued a dividend of $0.08 per share, representing a dividend yield of 0.2%.

    It is worth noting that there has been some insider activity within the company. Senior Officer Zenon Wozniak sold 55,647 shares of First Quantum Minerals’ stock in August.

    With its strong earnings projection and solid financial performance, First Quantum Minerals is well-positioned for continued growth in the mining industry. The company’s focus on diversifying its mineral portfolio and expanding its operations in various global locations further strengthens its position.


    Is First Quantum Minerals expected to see earnings growth in 2023?
    Yes, according to a forecast by Raymond James, First Quantum Minerals is projected to achieve strong earnings growth in 2023, with earnings of $1.63 per share.

    What is the consensus estimate for First Quantum Minerals’ current full-year earnings?
    The consensus estimate for First Quantum Minerals’ current full-year earnings is $2.00 per share.

    What is the average price target for First Quantum Minerals?
    The average price target for First Quantum Minerals is C$29.91 according to analysts.

    – Raymond James
    – First Quantum Minerals