First Quantum Minerals Ltd. (TSE:FM) – Analysts at Raymond James boosted their Q2 2021 earnings estimates for shares of First Quantum Minerals in a research report issued on Tuesday, June 8th. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their prior estimate of $0.37. Raymond James has a “Outperform” rating and a $40.00 price target on the stock. Raymond James also issued estimates for First Quantum Minerals’ FY2021 earnings at $2.03 EPS, Q1 2022 earnings at $0.71 EPS, Q2 2022 earnings at $0.71 EPS, Q3 2022 earnings at $0.71 EPS, Q4 2022 earnings at $0.73 EPS and FY2022 earnings at $2.88 EPS.
Several other equities analysts have also commented on FM. National Bank Financial increased their target price on shares of First Quantum Minerals to C$40.00 and gave the company an “outperform” rating in a report on Thursday, May 20th. Scotiabank increased their target price on shares of First Quantum Minerals from C$30.00 to C$34.00 in a report on Monday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$36.00 target price on shares of First Quantum Minerals in a report on Wednesday, April 28th. The Goldman Sachs Group increased their target price on shares of First Quantum Minerals from C$30.00 to C$40.00 and gave the company an “underperform” rating in a report on Wednesday, April 14th. Finally, TD Securities increased their target price on shares of First Quantum Minerals from C$31.00 to C$33.00 and gave the company a “buy” rating in a report on Thursday, February 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of C$33.42.
First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, April 27th. The company reported C$0.27 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.24 by C$0.03. The company had revenue of C$2.13 billion during the quarter, compared to the consensus estimate of C$2 billion.
In other news, Senior Officer Hannes Meyer sold 25,000 shares of First Quantum Minerals stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of C$30.58, for a total value of C$764,500.00. Following the completion of the sale, the insider now directly owns 82,997 shares in the company, valued at C$2,538,048.26. Also, Director G. Clive Newall sold 50,000 shares of First Quantum Minerals stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of C$30.51, for a total transaction of C$1,525,250.00. Following the completion of the sale, the director now owns 2,693,461 shares of the company’s stock, valued at C$82,164,027.81. Insiders sold 200,000 shares of company stock valued at $6,509,275 over the last ninety days.
The company also recently announced a dividend, which was paid on Thursday, May 6th. Shareholders of record on Thursday, May 6th were issued a $0.005 dividend. The ex-dividend date of this dividend was Wednesday, April 14th. This represents a yield of 0.02%. First Quantum Minerals’s dividend payout ratio (DPR) is presently 17.68%.
First Quantum Minerals Company Profile
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the PyhÃ¤salmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.
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