First Quantum Minerals Ltd (FQVLF)
OTHER OTC:FQVLF
Earnings Data
Report Date
Apr 28, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.15Last Year’s EPS
0Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented meaningful operational and financial progress — notably the Kansanshi S3 commercial production, record nickel performance, full‑year production meeting guidance, strengthened liquidity and financing moves, and positive credit outlook — which materially improve the company’s growth and financing optionality. However, the quarter also highlighted cost pressures (C1 up 13%), operational interruptions at Sentinel (Q4 copper down 4% QoQ) driven by Ball mill fatigue and weather, significant ongoing care & maintenance costs at Cobre Panama (~$15–17M/month) with further potential restart cash needs (~$250M peak for stockpile processing and $300–$500M potential broader restart), hedge losses (notably ~$220M expected on copper hedges at current spot) and elevated net debt (net debt $5.2B, ~3.3x EBITDA). On balance, the highlights (project delivery, production achievements, financing/liquidity actions and improved credit outlook) outweigh the lowlights, though material risks remain related to costs, leverage and Panama timing.Company Guidance
Kansanshi S3 Expansion Achieves Commercial Production
S3 declared commercial production on December 1 after demonstrating consistent performance at 90% of design capacity within 5 months of initial production. Throughput capacity is 25 million tonnes per annum; S3 is expected to contribute over 84,000 tonnes of copper in 2026, sourced evenly from low‑grade stockpiles and fresh ore.
2025 Production Targets Met and Strong Nickel Performance
Full‑year 2025 copper production was 396,000 tonnes (within revised guidance). Annual gold production was 152,000 ounces and nickel production 23,000 tonnes, both above the top end of revised guidance. Enterprise delivered record quarterly nickel production of 9,000 tonnes, a 52% increase QoQ; Enterprise 2026 nickel guidance is 30,000–40,000 tonnes.
Quarterly Sales and Revenue Growth
Q4 copper sales were 108,000 tonnes (exceeding production by ~8,000 tonnes). Revenue increased 10% quarter‑over‑quarter, driving a 7% increase in EBITDA and a $73 million improvement in net earnings.
Balance Sheet and Liquidity Strengthened
Completed bond and credit transactions including a $1 billion stream with Royal Gold, a new syndicated term loan and revolving credit facility (freeing ~ $360 million liquidity), and announced a $1.35 billion 10‑year unsecured bond. Liquidity at quarter end was $1.9 billion (cash $644 million + undrawn RCF $1.3 billion).
Credit Outlook Improvement
S&P moved the company’s B rating to a positive outlook, recognizing balance sheet strengthening and the potential return of Cobre Panama.
Cobre Panama Stockpile Processing Authorization (Preliminary)
President announced approval in principle to remove, process and export stockpiled ore (not a mine restart). Processing could begin ~3 months after formal approval and take ~1 year, with an estimated ~70,000 tonnes of copper recoverable from the stockpiles and supporting environmental management and local employment (>1,000 direct jobs).
Cost Savings and Portfolio Simplification
Sale of Las Cruces completed, simplifying the portfolio and delivering approximately $30 million in annual cost savings and transfer of development responsibility to the new owner.
Operational Improvements and Project Execution
Kansanshi mill circuits and conveyor enhancements improved stability and uptime; Kansanshi achieved a record monthly mill tonnage in October. Sentinel debottlenecking projects and planned optimization work (crusher relocations, tailings lines, feed well upgrades) target throughput and consistency improvements in 2026.
FQVLF 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
FQVLF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $28.52 | $27.74 | -2.73% |
Oct 28, 2025 | $22.37 | $21.84 | -2.37% |
Jul 23, 2025 | $17.95 | $17.53 | -2.34% |
Apr 23, 2025 | $13.09 | $13.76 | +5.12% |
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.
FAQ
When does First Quantum Minerals Ltd (FQVLF) report earnings?
First Quantum Minerals Ltd (FQVLF) is schdueled to report earning on Apr 28, 2026, After Close (Confirmed).
What is First Quantum Minerals Ltd (FQVLF) earnings time?
First Quantum Minerals Ltd (FQVLF) earnings time is at Apr 28, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is FQVLF EPS forecast?
FQVLF EPS forecast for the fiscal quarter 2026 (Q1) is 0.15.