First Quantum Minerals (TSE:FM) Reaches New 1-Year High – Still a Buy?

First Quantum Minerals Ltd. (TSE:FM) reached a new 52-week high on Thursday . The stock traded as high as C$23.24 and last traded at C$23.12, with a volume of 3111818 shares. The stock had previously closed at C$21.71.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays reduced their target price on First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. TD Securities increased their target price on First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a “hold” rating in a report on Thursday, February 13th. Royal Bank of Canada lifted their price target on First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of First Quantum Minerals from C$18.00 to C$17.00 in a report on Thursday, January 30th. Finally, Scotiabank dropped their target price on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$21.57.

First Quantum Minerals Trading Up 0.2 %

The business has a 50 day moving average of C$19.01 and a 200 day moving average of C$18.50. The firm has a market capitalization of C$12.62 billion, a price-to-earnings ratio of -8.22, a PEG ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter last year, the company posted ($0.37) earnings per share. As a group, research analysts predict that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Zenon Wozniak sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total value of C$844,400.00. Also, Director Charles Kevin Mcarthur bought 25,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of C$17.23 per share, for a total transaction of C$430,842.13. Company insiders own 19.35% of the company’s stock.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.