Scotiabank Has Bearish Forecast for TSE:FM FY2026 Earnings

First Quantum Minerals Ltd. (TSE:FM) – Research analysts at Scotiabank cut their FY2026 earnings estimates for shares of First Quantum Minerals in a note issued to investors on Tuesday, August 4th. Scotiabank analyst O. Wowkodaw now expects that the company will post earnings per share of $0.07 for the year, down from their prior estimate of $0.22. Scotiabank currently has a “Sector Outperform” rating and a $55.00 price target on the stock. The consensus estimate for First Quantum Minerals’ current full-year earnings is $0.56 per share. Scotiabank also issued estimates for First Quantum Minerals’ FY2027 earnings at $2.11 EPS.

A number of other equities analysts have also recently commented on the company. Barclays lifted their target price on First Quantum Minerals from C$42.00 to C$46.00 in a report on Thursday, July 16th. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Canaccord Genuity Group lowered their target price on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Scotia cut their price target on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 30th. Finally, National Bank Financial boosted their target price on First Quantum Minerals from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$44.68.

First Quantum Minerals Trading Down 1.5%

Shares of FM stock opened at C$42.00 on Friday. First Quantum Minerals has a 1 year low of C$22.21 and a 1 year high of C$46.36. The company has a debt-to-equity ratio of 54.66, a current ratio of 1.90 and a quick ratio of 1.41. The stock’s 50 day simple moving average is C$40.14 and its two-hundred day simple moving average is C$37.74. The company has a market cap of C$35.04 billion, a PE ratio of -466.67, a price-to-earnings-growth ratio of -1.28 and a beta of 1.38.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, July 28th. The company reported C($0.19) EPS for the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%.The company had revenue of C$2.16 billion during the quarter.

Insider Transactions at First Quantum Minerals

In related news, insider Gavin Ashley sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the transaction, the insider owned 75,905 shares of the company’s stock, valued at C$3,491,630. The trade was a 20.85% decrease in their ownership of the stock. Also, Director Kathleen Applegate Hogenson purchased 1,073 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of C$37.53 per share, for a total transaction of C$40,269.69. Following the completion of the acquisition, the director directly owned 62,240 shares in the company, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their position. 19.35% of the stock is owned by corporate insiders.

First Quantum Minerals Company Profile

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.