First Quantum Minerals (TSE:FM) Hits New 52-Week High – Should You Buy?

First Quantum Minerals Ltd. (TSE:FM) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$42.20 and last traded at C$41.81, with a volume of 381337 shares. The stock had previously closed at C$41.10.

Analyst Ratings Changes

FM has been the subject of several recent analyst reports. TD Securities raised their price objective on shares of First Quantum Minerals from C$34.00 to C$41.00 in a research report on Thursday. Raymond James Financial upped their price target on First Quantum Minerals from C$25.00 to C$29.00 in a research note on Friday, October 10th. JPMorgan Chase & Co. raised First Quantum Minerals from a “neutral” rating to an “overweight” rating and increased their target price for the stock from C$20.00 to C$42.00 in a research note on Friday, October 10th. CIBC upped their target price on shares of First Quantum Minerals from C$26.00 to C$36.00 in a research note on Friday, October 10th. Finally, Citigroup boosted their target price on First Quantum Minerals from C$26.00 to C$39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.56.

First Quantum Minerals Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The stock has a fifty day moving average of C$35.01 and a two-hundred day moving average of C$29.57. The stock has a market cap of C$33.08 billion, a price-to-earnings ratio of 660.83, a price-to-earnings-growth ratio of -1.28 and a beta of 1.37.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.The business had revenue of C$1.87 billion for the quarter. On average, equities research analysts anticipate that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Insider Activity at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur bought 10,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the completion of the transaction, the director directly owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This represents a 40.00% increase in their ownership of the stock. Over the last quarter, insiders have acquired 10,474 shares of company stock valued at $304,575. Company insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.