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First Quantum Minerals Ltd (TSE:FM)
TSX:FM
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Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
C$0.04Last Year’s EPS
-C$0.37Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 1.47%
|Next Earnings Date:Feb 13, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed sentiment with strong operational performance and improved financial metrics, but significant challenges remain, particularly in safety, power stability, and ongoing issues in Panama.Company Guidance
During the earnings call for the third quarter of 2024, First Quantum Minerals provided guidance on several key metrics. The company reported a strong operational performance with total copper production reaching 116,000 tonnes, marking a 13% increase over the previous quarter. Consequently, the firm adjusted its annual copper production guidance to a range of 400,000 to 420,000 tonnes. Additionally, the company narrowed its full-year C1 cash cost guidance to $1.80 to $1.95 per pound, following a 9% quarter-over-quarter decline to $1.57 per pound. In terms of gold, the production guidance at Kansanshi was increased to between 90,000 and 100,000 ounces, with group-level production expected to be between 120,000 and 135,000 ounces. As for nickel, Enterprise maintained its production guidance of 17,000 to 20,000 tonnes. The company also highlighted that its hedging strategy covered approximately 43% of copper through zero-cost collars, aiming for a floor and cap between $4.07 and $5.01 per pound through the end of 2025. Looking ahead, First Quantum Minerals anticipates the Kansanshi S3 expansion to achieve first production in the second half of 2025, with all equipment expected to be on site by the end of November 2024.Strong Operational Performance in Zambia
Zambian operations performed strongly, with production at the upper end of copper guidance and lower end of cost guidance. Copper production for Q3 was 116,000 tonnes, a 13% increase over Q2.
Improved Costs and Financial Performance
Q3 net earnings attributable to shareholders improved to $108 million. C1 cash costs improved by 9% to $1.57 per pound due to higher production and lower fuel costs.
Successful Capital Management
The amendment and extension of the Trident facility freed up $425 million in liquidity, aiding the construction of the S3 expansion.
Increased Production Guidance
Copper production guidance for the year increased to between 400,000 and 420,000 tonnes. Gold production guidance at Kansanshi increased to between 90,000 and 100,000 ounces.
Progress on Kansanshi S3 Expansion
Assembly of SAG and ball mills completed, with commissioning activities underway. On track for first production in the second half of 2025.
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TSE:FM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:FM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | C$18.37 | C$18.61 | +1.31% |
| Jul 23, 2024 | C$16.34 | C$16.76 | +2.57% |
| Apr 23, 2024 | C$15.52 | C$15.94 | +2.71% |
| Feb 20, 2024 | C$11.61 | C$11.91 | +2.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Quantum Minerals Ltd (TSE:FM) report earnings?
First Quantum Minerals Ltd (TSE:FM) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is First Quantum Minerals Ltd (TSE:FM) earnings time?
First Quantum Minerals Ltd (TSE:FM) earnings time is at Feb 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:FM EPS forecast?
TSE:FM EPS forecast for the fiscal quarter 2024 (Q4) is C$0.04.
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