Canada's First Quantum Q4 revenue beats analyst expectations

First Quantum Minerals

10/02/2026 22:10

Overview

Canada-based mining firm's Q4 revenue rose, beating analyst expectations

Adjusted EPS for Q4 missed analyst expectations

Company signed new $2.2 bln credit facility, enhancing financial flexibility

Outlook

First Quantum expects 2026 copper production of 375,000 – 435,000 tonnes

Company anticipates 2026 gold production of 175,000 – 200,000 ounces

Result Drivers

S3 EXPANSION - Kansanshi's copper production increased due to successful ramp-up of S3, which declared commercial production in December 2025

HIGHER COSTS - Copper C1 cash cost rose due to lower production volumes and increased power costs in Zambia

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$1.48 bln
$1.36 bln (8 Analysts)
Q4 Adjusted EPS
Miss
$0.01
$0.06 (15 Analysts)
Q4 EPS
$0.03
Q4 Adjusted Net Income
Miss
$5 mln
$24.95 mln (2 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialty mining & metals peer group is "buy"

Wall Street's median 12-month price target for First Quantum Minerals Ltd is C$40.00, about 3.3% above its February 9 closing price of C$38.73

The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release: ID:nGNX1kXS4d

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)