Canada's First Quantum Q4 revenue beats analyst expectations

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

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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