First Quantum Minerals (TSE:FM) Sets New 12-Month High – What’s Next?

First Quantum Minerals Ltd. (TSE:FM)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$23.28 and last traded at C$22.65, with a volume of 2685914 shares traded. The stock had previously closed at C$22.84.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FM shares. Barclays cut their price target on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. TD Securities lifted their price target on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Stifel Canada raised First Quantum Minerals to a “hold” rating in a research note on Wednesday, March 19th. Morgan Stanley raised their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$21.57.

First Quantum Minerals Trading Down 1.9 %

The firm has a market cap of C$11.89 billion, a price-to-earnings ratio of -7.74, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. 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 business has a 50 day moving average price of C$19.22 and a 200-day moving average price of C$18.64.

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

Insider Transactions at First Quantum Minerals

In other news, Director Simon John Scott acquired 1,397 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, December 31st. The shares were purchased at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Also, Director Charles Kevin Mcarthur acquired 25,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of C$17.23 per share, with a total value of C$430,842.13. Corporate insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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.