First Quantum Minerals
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. The last earnings update was 55 days ago. More info.
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- First Quantum Minerals has significant price volatility in the past 3 months.
FM Share Price and Events
7 Day Returns
1 Year Returns
FM Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| First Quantum Minerals (FM) | 7.2% | 21.7% | -15.2% | -41.2% | 35% | -46.9% |
| CA Metals and Mining | 5.7% | 15.9% | 2.5% | -3.8% | -13.6% | -17.2% |
| CA Market | 1.2% | 1.3% | 1% | -2.6% | 12.8% | 2.2% |
1 Year Return vs Industry and Market
- FM underperformed the Metals and Mining industry which returned -3.8% over the past year.
- FM underperformed the Market in Canada which returned -2.6% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
First Quantum Minerals
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for First Quantum Minerals.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 20 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 12.7% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 6% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 26.5%) (152.32%)) |
1.8 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.8 * 5.96%) |
12.68% |
Discounted Cash Flow Calculation for TSX:FM using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for First Quantum Minerals is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 12.68%) |
|
|---|---|---|---|
| 2019 | -119.28 | Analyst x9 | -105.86 |
| 2020 | 1,265.97 | Analyst x7 | 997.12 |
| 2021 | 1,387.45 | Analyst x6 | 969.85 |
| 2022 | 2,158.68 | Analyst x5 | 1,339.18 |
| 2023 | 1,483.00 | Analyst x1 | 816.49 |
| 2024 | 1,106.19 | Est @ -25.41% | 540.51 |
| 2025 | 915.90 | Est @ -17.2% | 397.18 |
| 2026 | 810.96 | Est @ -11.46% | 312.10 |
| 2027 | 750.66 | Est @ -7.44% | 256.39 |
| 2028 | 715.97 | Est @ -4.62% | 217.03 |
| Present value of next 10 years cash flows | $5,740.00 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $715.97 × (1 + 1.95%) ÷ (12.68% – 1.95%) |
$6,802.13 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $6,802.13 ÷ (1 + 12.68%)10 |
$2,061.91 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $5,740.00 + $2,061.91 |
$7,801.91 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $7,801.91 / 685.24 |
$11.39 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/CAD
(Reporting currency to currency of TSX:FM) |
1.321 |
| Value per Share (CAD) |
= Value per Share in USD x Exchange Rate (USD/CAD)
= $11.39 x 1.321 |
CA$15.05 |
| Value per share (CAD) | From above. | CA$15.05 |
| Current discount | Discount to share price of
CA$11.95
= -1 x (CA$11.95 - CA$15.05) / CA$15.05 |
20.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- First Quantum Minerals's share price is below the future cash flow value, and at a moderate discount (> 20%).
- First Quantum Minerals's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for First Quantum Minerals's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
First Quantum Minerals's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $0.65 |
| TSX:FM Share Price ** | TSX (2019-06-21) in CAD | CA$11.95 |
| TSX:FM Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.757 | $9.04 |
| Canada Metals and Mining Industry PE Ratio | Median Figure of 111 Publicly-Listed Metals and Mining Companies | 14.78x |
| Canada Market PE Ratio | Median Figure of 542 Publicly-Listed Companies | 15.1x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of First Quantum Minerals.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:FM Share Price ÷ EPS (both in USD) = 9.04 ÷ 0.65 |
13.9x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- First Quantum Minerals is good value based on earnings compared to the CA Metals and Mining industry average.
- First Quantum Minerals is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does
First Quantum Minerals's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 13.9x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts |
31.5%per year |
| Canada Metals and Mining Industry PEG Ratio | Median Figure of 36 Publicly-Listed Metals and Mining Companies | 0.79x |
| Canada Market PEG Ratio | Median Figure of 248 Publicly-Listed Companies | 1.18x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 13.9x ÷ 31.5% |
0.44x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- First Quantum Minerals is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
First Quantum Minerals's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $13.87 |
| TSX:FM Share Price * | TSX (2019-06-21) in CAD | CA$11.95 |
| TSX:FM Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.757 | $9.04 |
| Canada Metals and Mining Industry PB Ratio | Median Figure of 1,092 Publicly-Listed Metals and Mining Companies | 1.38x |
| Canada Market PB Ratio | Median Figure of 2,425 Publicly-Listed Companies | 1.43x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:FM Share Price ÷ Book Value per Share (both in USD) = 9.04 ÷ 13.87 |
0.65x |
* Primary Listing of First Quantum Minerals.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- First Quantum Minerals is good value based on assets compared to the CA Metals and Mining industry average.
Value checks
We assess First Quantum Minerals's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) First Quantum Minerals has a total score of 5/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- First Quantum Minerals's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
- First Quantum Minerals's earnings growth is expected to exceed the Canada market average.
- First Quantum Minerals's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:FM Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts | 31.5% |
| TSX:FM Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts | 13.4% |
| Canada Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 28.5% |
| Canada Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 5.2% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 14.9% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 5.9% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 20 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 7,402 | 2,638 | 1,665 | 4 |
| 2022-12-31 | 6,969 | 2,768 | 1,779 | 10 |
| 2021-12-31 | 5,987 | 2,271 | 1,128 | 17 |
| 2020-12-31 | 5,836 | 2,158 | 971 | 20 |
| 2019-12-31 | 4,332 | 1,548 | 501 | 18 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 3,938 | 1,343 | 447 |
| 2018-12-31 | 3,966 | 1,980 | 441 |
| 2018-09-30 | 3,797 | 1,845 | 128 |
| 2018-06-30 | 3,696 | 1,673 | 15 |
| 2018-03-31 | 3,429 | 1,471 | -155 |
| 2017-12-31 | 3,310 | 914 | -316 |
| 2017-09-30 | 3,114 | 804 | -189 |
| 2017-06-30 | 2,842 | 800 | -101 |
| 2017-03-31 | 2,719 | 921 | 59 |
| 2016-12-31 | 2,673 | 923 | 222 |
| 2016-09-30 | 2,703 | 1,595 | 321 |
| 2016-06-30 | 2,730 | 1,502 | -145 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 20 Analyst Estimates (S&P Global) | See Below |
All data from First Quantum Minerals Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 2.41 | 3.08 | 1.73 | 2.00 |
| 2022-12-31 | 2.57 | 3.96 | 1.90 | 5.00 |
| 2021-12-31 | 1.39 | 3.32 | 0.54 | 12.00 |
| 2020-12-31 | 1.41 | 2.20 | 1.05 | 8.00 |
| 2019-12-31 | 0.71 | 1.07 | 0.36 | 10.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.65 |
| 2018-12-31 | 0.64 |
| 2018-09-30 | 0.19 |
| 2018-06-30 | 0.02 |
| 2018-03-31 | -0.23 |
| 2017-12-31 | -0.46 |
| 2017-09-30 | -0.28 |
| 2017-06-30 | -0.15 |
| 2017-03-31 | 0.09 |
| 2016-12-31 | 0.32 |
| 2016-09-30 | 0.47 |
| 2016-06-30 | -0.21 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- First Quantum Minerals is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess First Quantum Minerals's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
First Quantum Minerals has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has First Quantum Minerals performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- First Quantum Minerals's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- First Quantum Minerals has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
- First Quantum Minerals has become profitable in the last year making it difficult to compare the CA Metals and Mining industry average.
Earnings and Revenue History
All data from First Quantum Minerals Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 3,938.00 | 447.00 | 97.00 | |
| 2018-12-31 | 3,966.00 | 441.00 | 100.00 | |
| 2018-09-30 | 3,797.00 | 128.00 | 101.00 | |
| 2018-06-30 | 3,696.00 | 15.00 | 99.00 | |
| 2018-03-31 | 3,429.00 | -155.00 | 97.00 | |
| 2017-12-31 | 3,310.00 | -316.00 | 92.00 | |
| 2017-09-30 | 3,114.00 | -189.00 | 90.00 | |
| 2017-06-30 | 2,842.00 | -101.00 | 87.00 | |
| 2017-03-31 | 2,719.00 | 59.00 | 86.00 | |
| 2016-12-31 | 2,673.00 | 222.00 | 86.00 | |
| 2016-09-30 | 2,703.00 | 321.00 | 83.00 | |
| 2016-06-30 | 2,730.00 | -145.00 | 91.00 | |
| 2016-03-31 | 2,629.00 | -374.00 | 101.00 | |
| 2015-12-31 | 2,511.00 | -501.00 | 113.00 | |
| 2015-09-30 | 2,613.00 | -159.00 | 138.00 | |
| 2015-06-30 | 2,866.00 | 392.00 | 156.00 | |
| 2015-03-31 | 3,253.00 | 630.00 | 168.00 | |
| 2014-12-31 | 3,542.00 | 835.00 | 176.00 | |
| 2014-09-30 | 3,618.00 | 513.30 | 179.50 | |
| 2014-06-30 | 3,618.40 | 535.30 | 182.00 | |
| 2014-03-31 | 3,542.70 | 473.20 | 178.90 | |
| 2013-12-31 | 3,552.90 | 458.60 | 174.30 | |
| 2013-09-30 | 3,430.50 | 514.00 | 157.60 | |
| 2013-06-30 | 3,269.90 | 478.30 | 136.90 | |
| 2013-03-31 | 3,122.90 | 548.40 | 130.80 | |
| 2012-12-31 | 2,950.40 | 1,772.90 | 125.70 | |
| 2012-09-30 | 2,743.10 | 1,662.20 | 127.40 | |
| 2012-06-30 | 2,669.30 | 1,645.80 | 141.90 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- First Quantum Minerals has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- First Quantum Minerals used its assets less efficiently than the CA Metals and Mining industry average last year based on Return on Assets.
- First Quantum Minerals has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess First Quantum Minerals's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
First Quantum Minerals has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is First Quantum Minerals's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up First Quantum Minerals's finances.
The net worth of a company is the difference between its assets and liabilities.
- First Quantum Minerals is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- First Quantum Minerals's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from First Quantum Minerals Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 10,757.00 | 9,439.00 | 1,345.00 |
| 2018-12-31 | 10,722.00 | 8,698.00 | 1,255.00 |
| 2018-09-30 | 10,527.00 | 7,341.00 | 1,225.00 |
| 2018-06-30 | 10,452.00 | 7,323.00 | 1,458.00 |
| 2018-03-31 | 10,263.00 | 7,079.00 | 1,504.00 |
| 2017-12-31 | 10,128.00 | 7,796.00 | 1,296.00 |
| 2017-09-30 | 10,203.00 | 6,466.00 | 1,407.00 |
| 2017-06-30 | 10,250.00 | 6,178.00 | 1,407.00 |
| 2017-03-31 | 10,170.00 | 6,072.00 | 1,411.00 |
| 2016-12-31 | 10,285.00 | 6,440.00 | 1,463.00 |
| 2016-09-30 | 10,500.00 | 4,998.00 | 810.00 |
| 2016-06-30 | 10,498.00 | 5,018.00 | 895.00 |
| 2016-03-31 | 10,364.00 | 5,064.00 | 269.00 |
| 2015-12-31 | 10,633.00 | 5,874.00 | 1,178.00 |
| 2015-09-30 | 10,487.00 | 5,691.00 | 276.00 |
| 2015-06-30 | 11,016.00 | 5,601.00 | 289.00 |
| 2015-03-31 | 9,976.00 | 6,330.00 | 302.00 |
| 2014-12-31 | 10,088.00 | 5,729.00 | 357.00 |
| 2014-09-30 | 9,522.60 | 5,603.10 | 451.60 |
| 2014-06-30 | 9,237.80 | 5,152.40 | 682.20 |
| 2014-03-31 | 9,225.50 | 4,599.20 | 747.20 |
| 2013-12-31 | 9,088.60 | 4,113.10 | 694.50 |
| 2013-09-30 | 9,069.40 | 3,419.20 | 720.00 |
| 2013-06-30 | 8,995.50 | 2,698.40 | 800.90 |
| 2013-03-31 | 9,288.20 | 4,704.80 | 3,831.10 |
| 2012-12-31 | 5,881.40 | 424.00 | 309.00 |
| 2012-09-30 | 5,671.40 | 55.40 | 374.90 |
| 2012-06-30 | 5,622.10 | 39.70 | 856.70 |
- First Quantum Minerals's level of debt (87.7%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (49.9% vs 87.7% today).
- Debt is not well covered by operating cash flow (14.2%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 859x coverage).
Financial health checks
We assess First Quantum Minerals's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) First Quantum Minerals has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is First Quantum Minerals's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
CA$2,000 of
First Quantum Minerals
shares you are expected to receive
CA$2
in your first year as a dividend.
Dividend Amount
- First Quantum Minerals's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.11%).
- First Quantum Minerals's dividend is below the markets top 25% of dividend payers in Canada (5.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 20 Analyst Estimates (S&P Global) | See Below |
| Canada Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 28 Stocks | 1.2% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 335 Stocks | 3.5% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 0.02 | 1.00 |
| 2022-12-31 | 0.09 | 6.00 |
| 2021-12-31 | 0.03 | 11.00 |
| 2020-12-31 | 0.01 | 13.00 |
| 2019-12-31 | 0.01 | 13.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-14 | 0.007 | 0.076 |
| 2018-10-29 | 0.007 | 0.082 |
| 2018-07-30 | 0.008 | 0.065 |
| 2018-02-12 | 0.008 | 0.051 |
| 2017-10-27 | 0.008 | 0.060 |
| 2017-07-27 | 0.008 | 0.071 |
| 2017-02-16 | 0.007 | 0.079 |
| 2016-10-27 | 0.007 | 0.067 |
| 2016-07-27 | 0.007 | 0.091 |
| 2016-02-18 | 0.014 | 0.254 |
| 2015-11-09 | 0.045 | 1.654 |
| 2015-07-29 | 0.049 | 0.922 |
| 2015-02-20 | 0.076 | 0.625 |
| 2014-07-30 | 0.113 | 0.807 |
| 2014-02-20 | 0.135 | 0.692 |
| 2013-07-31 | 0.155 | 0.926 |
| 2013-03-05 | 0.165 | 0.993 |
| 2012-08-01 | 0.183 | 0.905 |
| 2012-03-06 | 0.174 | 0.960 |
| 2011-08-08 | 0.621 | 3.319 |
| 2011-03-15 | 0.161 | 0.625 |
| 2010-08-10 | 0.074 | 0.438 |
| 2010-03-16 | 0.113 | 0.865 |
| 2009-11-11 | 0.030 | 0.192 |
| 2009-11-10 | 0.030 | 0.211 |
| 2009-08-10 | 0.029 | 0.227 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- First Quantum Minerals is not paying a notable dividend for Canada, therefore no need to check if the payments are stable.
- First Quantum Minerals is not paying a notable dividend for Canada, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess First Quantum Minerals's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can First Quantum Minerals afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) First Quantum Minerals has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $4,602,602 |
| AGE | 70 |
| TENURE AS CEO | 22.6 years |
CEO Bio
Mr. Philip Kelvin Rodda Pascall has been Chairman and Chief Executive Officer of First Quantum Minerals Limited since 1996. Mr. Pascall is a Co-Founder of First Quantum Minerals Limited. He worked in general management positions in South Africa from 1973, and in the mining industry there from 1977 with RTZ, and E.L. Bateman, and from 1981, in Australia. He was the Project Manager of the Argyle Diamond project and then Executive Chairman and part owner of Nedpac Engineering between 1982 and 1990. During this time, Mr. Pascall was involved in a wide variety of mineral projects in Australia, New Zealand, S.E. Asia, Chile, the United States and Zimbabwe. In 1990, Mr. Pascall was a consultant in the mining industry, including a period with Rio Tinto’s Hamersley Iron, and with various projects in Zimbabwe and Zambia. He graduated from Sussex University in England with an honours degree in Control Engineering, and later completed an MBA at the University of Cape Town.
CEO Compensation
- Philip Kelvin's compensation has increased in line with First Quantum Minerals recently becoming profitable.
- Philip Kelvin's remuneration is about average for companies of similar size in Canada.
Management Team Tenure
Average tenure and age of the First Quantum Minerals management team in years:
- The average tenure for the First Quantum Minerals management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Philip Kelvin Pascall
Chairman & CEO
$5M
70
22.6 yrs
Geoffrey Newall
President & Director
$1M
68
23.4 yrs
Hannes Meyer
Chief Financial Officer
$1M
48
7.3 yrs
Wyatt Buck
Director of Opeerations
$907K
8.4 yrs
Sharon Loung
Director of Investor Relations
11 yrs
Sarah E. Robertson
Corporate Secretary
2 yrs
Board of Directors Tenure
Average tenure and age of the First Quantum Minerals board of directors in years:
- The average tenure for the First Quantum Minerals board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Philip Kelvin Pascall
Chairman & CEO
$5M
70
22.6 yrs
Geoffrey Newall
President & Director
$1M
68
23.1 yrs
Andrew Adams
Independent Director
$200K
61
14 yrs
Paul Brunner
Independent Director
$200K
67
10.2 yrs
Bob Harding
Lead Independent Director
$240K
60
2.1 yrs
Peter St George
Independent Director
$200K
71
15.7 yrs
Kathy Hogenson
Independent Director
$185K
57
2.1 yrs
Simon Scott
Independent Director
$126K
60
1.1 yrs
Jo Warner
Independent Director
0.1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess First Quantum Minerals's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) First Quantum Minerals has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
What Investors Should Know About First Quantum Minerals Ltd.'s (TSE:FM) Financial Strength
With this growth in debt, FM's cash and short-term investments stands at US$1.3b to keep the business going. … On top of this, FM has generated US$1.3b in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 14%, signalling that FM’s operating cash is less than its debt. … Next Steps: Although FM’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.
Simply Wall St - – Full articleHow Much Of First Quantum Minerals Ltd. (TSE:FM) Do Institutions Own?
Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that have been privatized tend to have low insider ownership. … institutions are noticeable on the share registry.
Simply Wall St - – Full articleAn Intrinsic Calculation For First Quantum Minerals Ltd. (TSE:FM) Shows It's 25.54% Undervalued
by taking the foreast future cash flows of the company and discounting them back to today's value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model
Simply Wall St - – Full articleDo Directors Own First Quantum Minerals Ltd. (TSE:FM) Shares?
The big shareholder groups in First Quantum Minerals Ltd. … Generally speaking, as a company grows, institutions will increase their ownership. … First Quantum Minerals is a pretty big company.
Simply Wall St - – Full articleIs First Quantum Minerals Ltd's (TSE:FM) Balance Sheet Strong Enough To Weather A Storm?
Mid-caps stocks, like First Quantum Minerals Ltd (TSE:FM) with a market capitalization of CA$8.2b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself. … Check out our latest analysis for First Quantum Minerals
Simply Wall St - – Full articleDoes First Quantum Minerals Ltd's (TSE:FM) CEO Pay Compare Well With Peers?
Philip Kelvin Pascall became the CEO of First Quantum Minerals Ltd (TSE:FM) in 1996. … How Does Philip Kelvin Pascall's Compensation Compare With Similar Sized Companies. … According to our data, First Quantum Minerals Ltd has a market capitalization of CA$8.1b, and pays its CEO total annual compensation worth US$4m.
Simply Wall St - – Full articleHow Did First Quantum Minerals Ltd's (TSE:FM) 0.9% ROE Fare Against The Industry?
Our data shows First Quantum Minerals has a return on equity of 0.9% for the last year. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.0091 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleWhat Does First Quantum Minerals Ltd's (TSE:FM) Ownership Structure Look Like?
In this article, I'm going to take a look at First Quantum Minerals Ltd’s (TSE:FM) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment.
Simply Wall St - – Full articleIs First Quantum Minerals Ltd (TSE:FM) A Financially Sound Company?
Investors pursuing a solid, dependable stock investment can often be led to First Quantum Minerals Ltd (TSE:FM), a large-cap worth CA$14.01b. … Let’s take a look at First Quantum Minerals’s leverage and assess its financial strength to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself
Simply Wall St - – Full articleA Look At The Intrinsic Value Of First Quantum Minerals Ltd (TSE:FM)
5-year cash flow forecast 2018 2019 2020 2021 2022 Levered FCF ($, Millions) $261.43 $970.42 $1,747.00 $2,263.00 $2,277.25 Source Analyst x9 Analyst x11 Analyst x12 Analyst x6 Analyst x4 Present Value Discounted @ 17.87% $221.80 $698.48 $1,066.80 $1,172.39 $1,000.91 Present Value of 5-year Cash Flow (PVCF)= $4,160 The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = $2,277 × (1 + 2.1%) ÷ (17.9% – 2.1%) = $14,776 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $14,776 / ( 1 + 17.9%)5 = $6,494 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is CA$10,655. … TSX:FM Intrinsic Value May 1st 18 The assumptions I'd like to point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.
Simply Wall St - – Full articleCompany Info
Description
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland. It also has interests in copper and nickel projects at various stages of development located in Panama, Argentina, Peru, and Zambia. The company was formerly known as First Quantum Ventures Ltd. and changed its name to First Quantum Minerals Ltd. in July 1996. First Quantum Minerals Ltd. was founded in 1983 and is based in Vancouver, Canada.
Details
| Name: | First Quantum Minerals Ltd. |
| FM | |
| Exchange: | TSX |
| Founded: | 1983 |
| CA$8,188,588,901 | |
| 685,237,565 | |
| Website: | http://www.first-quantum.com |
| Address: |
First Quantum Minerals Ltd. 543 Granville Street, 14th Floor, Vancouver, British Columbia, V6C 1X8, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | FM | Common Shares | The Toronto Stock Exchange | CA | CAD | 16. Sep 1988 | |
| OTCPK | FQVL.F | Common Shares | Pink Sheets LLC | US | USD | 16. Sep 1988 | |
| DB | IZ1 | Common Shares | Deutsche Boerse AG | DE | EUR | 16. Sep 1988 | |
| LUSE | FQMZ | ZAMBIAN DEPOSITARY RECEIPTS 1/28 ORD SHS | Lusaka Stock Exchange | ZM | ZMW | 09. Dec 2011 |
Number of employees
Current staff
Industry
| Copper | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/23 23:38 |
| End of day share price update: | 2019/06/21 00:00 |
| Last estimates confirmation: | 2019/06/20 |
| Last earnings filing: | 2019/04/29 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
