First Quantum Minerals Ltd

FM

Equity

ISIN CA3359341052 / Valor 91154

Toronto Stock Exchange (2024-12-24)

CAD 19.00-0.26%

First Quantum Minerals Ltd
UMushroom community rating:

4.00 1 votes No rating yet

NegativeNeutralPositive

About company

First Quantum Minerals Ltd is a global mining company that focuses on the exploration, development, and production of copper, gold, and other base metals. The company has operations in multiple countries, including Argentina and Mauritania, where it owns and operates various mining projects. First Quantum's portfolio includes the Taca Taca project in Argentina, a copper-gold-molybdenum deposit, and the Guelb Moghrein project in Mauritania, a copper-gold project. With a strong presence in the mining industry, First Quantum Minerals Ltd continues to expand its operations and explore new opportunities for growth and development.

Summarized from source with an LLMView SourceSector: Energy

Net Earnings

In the third quarter of 2024, First Quantum Minerals Ltd reported net earnings attributable to shareholders of $108 million, translating to $0.13 earnings per share. The company also recorded adjusted earnings of $119 million, or $0.14 adjusted earnings per share, reflecting a solid financial performance during this period.

Revenue and Profit

First Quantum Minerals Ltd achieved a gross profit of $456 million and an EBITDA of $520 million in Q3 2024. The financial results showed improvement compared to the second quarter of 2024, driven by higher copper and gold sales volumes and stronger realized gold prices.

Copper Production

During the third quarter of 2024, First Quantum Minerals Ltd produced a total of 116,088 tonnes of copper, marking a 13% increase from the previous quarter. The company's proactive measures in Zambia helped mitigate the impact of power restrictions, contributing to the higher production levels.

Gold Production

First Quantum Minerals Ltd reported gold production of 31,659 ounces in Q3 2024, the highest quarterly production since the first quarter of 2022. The increase in gold production was supported by improved production volumes and operational efficiencies.

Outlook and Guidance

For the remainder of 2024, First Quantum Minerals Ltd has narrowed its copper production guidance to the top end of previous estimates and increased its gold production guidance. The company continues to focus on maintaining a strong balance sheet and managing operational challenges effectively.

Summarized from source with an LLMView Source

Key figures

71.9%1Y

-37.6%3Y

49.0%5Y

Performance

57.9%1Y

62.6%3Y

66.0%5Y

Volatility