First Quantum Minerals (TSE:FM) Sets New 12-Month High – Should You Buy?

Shares of First Quantum Minerals Ltd. (TSE:FM) hit a new 52-week high during trading on Monday . The stock traded as high as C$46.36 and last traded at C$45.53, with a volume of 300390 shares traded. The stock had previously closed at C$43.39.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$38.00 to C$50.00 in a research report on Thursday, March 12th. BMO Capital Markets raised their price objective on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Scotia reduced their price objective on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 30th. Stifel Nicolaus increased their target price on First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, Barclays cut their target price on First Quantum Minerals from C$44.60 to C$42.20 in a report on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$43.86.

First Quantum Minerals Trading Up 5.1%

The business has a fifty day moving average of C$37.85 and a 200-day moving average of C$36.67. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76. The company has a market capitalization of C$37.77 billion, a P/E ratio of -190.04, a PEG ratio of -1.28 and a beta of 1.36.

First Quantum Minerals (TSE:FM) last issued its earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The firm had revenue of C$1.95 billion during the quarter. Analysts anticipate that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.