First Quantum Minerals (TSE:FM) Announces Earnings Results

First Quantum Minerals (TSE:FM) announced its quarterly earnings results on Tuesday. The company reported C$0.04 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01, RTT News reports. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%.

First Quantum Minerals Price Performance

First Quantum Minerals stock traded down C$0.97 during midday trading on Tuesday, hitting C$18.83. The company’s stock had a trading volume of 3,803,673 shares, compared to its average volume of 2,078,664. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The stock’s 50-day moving average price is C$19.13 and its 200-day moving average price is C$18.01. First Quantum Minerals has a 12 month low of C$10.91 and a 12 month high of C$21.45. The company has a market capitalization of C$15.71 billion, a PE ratio of -7.27, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insiders Place Their Bets

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$20.32, for a total value of C$914,400.00. Also, Director Simon John Scott bought 1,397 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average price of C$18.57 per share, for a total transaction of C$25,942.29. Corporate insiders own 19.35% of the company’s stock.

Analyst Ratings Changes

FM has been the topic of a number of analyst reports. CIBC lifted their price objective on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. National Bankshares lifted their price objective on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group dropped their price objective on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, First Quantum Minerals has an average rating of “Hold” and a consensus target price of C$21.47.

First Quantum Minerals Company Profile

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.