First Quantum Minerals (TSE:FM) Reaches New 52-Week High – What’s Next?

First Quantum Minerals Ltd. (TSE:FM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$41.02 and last traded at C$40.67, with a volume of 235770 shares changing hands. The stock had previously closed at C$39.63.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Raymond James Financial boosted their target price on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Royal Bank Of Canada lifted their price target on shares of First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$35.00 to C$33.00 in a report on Wednesday, November 26th. Citigroup raised their price objective on First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, National Bankshares boosted their target price on First Quantum Minerals from C$32.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$35.39.

First Quantum Minerals Stock Up 2.5%

The business’s 50 day simple moving average is C$32.96 and its 200 day simple moving average is C$28.61. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The firm has a market capitalization of C$33.89 billion, a PE ratio of 677.17, a PEG 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 (EPS) for the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. The business had revenue of C$1.87 billion for the quarter. On average, equities research analysts forecast that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Insider Transactions at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur acquired 10,000 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of C$29.06 per share, with a total value of C$290,600.00. Following the purchase, the director directly 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 ownership of the stock. Insiders purchased 10,474 shares of company stock worth $304,575 in the last quarter. Corporate insiders own 19.35% of the company’s stock.

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.