First Quantum Minerals Limited (TSE:FM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$18.28 and last traded at C$18.25, with a volume of 1080000 shares. The stock had previously closed at C$17.61.
Several research firms have commented on FM. Scotiabank reissued an “outperform” rating and set a C$18.00 price objective on shares of First Quantum Minerals in a report on Friday, September 8th. Barclays increased their price objective on shares of First Quantum Minerals from C$12.65 to C$15.10 in a report on Tuesday, October 24th. Deutsche Bank increased their price objective on shares of First Quantum Minerals from C$18.00 to C$19.00 in a report on Friday, October 13th. Raymond James Financial increased their price objective on shares of First Quantum Minerals from C$16.00 to C$18.00 in a report on Monday, October 23rd. Finally, Industrial Alliance Securities increased their price objective on shares of First Quantum Minerals from C$16.95 to C$18.64 and gave the company a “hold” rating in a report on Thursday, October 19th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. First Quantum Minerals currently has an average rating of “Buy” and a consensus target price of C$18.18.
The stock has a market capitalization of $12,990.00, a price-to-earnings ratio of -53.86 and a beta of 2.94.
About First Quantum Minerals
First Quantum Minerals Ltd. is engaged in the production of copper, nickel, gold, zinc and acid, and related activities, including exploration and development. The Company’s segments include individual mine development projects or mine operations and the Corporate & other segment. The Corporate & other segment is responsible for the evaluation and acquisition of mineral properties, regulatory reporting, treasury and finance and corporate administration.
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