First Quantum Minerals (TSE:FM) Sets New 12-Month High After Analyst Upgrade

First Quantum Minerals Ltd. (TSE:FM)’s share price reached a new 52-week high during trading on Tuesday after Desjardins raised their price target on the stock from C$34.00 to C$40.00. Desjardins currently has a hold rating on the stock. First Quantum Minerals traded as high as C$42.48 and last traded at C$41.41, with a volume of 2330249 shares. The stock had previously closed at C$40.81.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their target price on shares of First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. Barclays upped their price objective on shares of First Quantum Minerals from C$38.00 to C$44.30 in a report on Thursday, January 8th. Raymond James Financial raised their target price on First Quantum Minerals from C$25.00 to C$29.00 in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft downgraded First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$35.00 to C$33.00 in a research note on Wednesday, November 26th. Finally, JPMorgan Chase & Co. raised First Quantum Minerals from a “neutral” rating to an “overweight” rating and raised their price objective for the company from C$20.00 to C$42.00 in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.56.

Insider Transactions at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur acquired 10,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of C$29.06 per share, with a total value of C$290,600.00. Following the acquisition, the director owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This trade represents a 40.00% increase in their position. In the last three months, insiders bought 10,474 shares of company stock worth $304,575. 19.35% of the stock is currently owned by insiders.

First Quantum Minerals Stock Performance

The company’s 50 day simple moving average is C$35.99 and its 200 day simple moving average is C$30.10. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market cap of C$34.73 billion, a PE ratio of 693.83, a price-to-earnings-growth ratio of -1.28 and a beta of 1.37.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, October 28th. The company reported C($0.02) earnings per share for the quarter. The business had revenue of C$1.87 billion during the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. Analysts expect that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

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.