First Quantum Minerals (TSE:FM) Hits New 1-Year High Following Analyst Upgrade

Shares of First Quantum Minerals Ltd. (TSE:FM) hit a new 52-week high during trading on Thursday after Royal Bank Of Canada raised their price target on the stock from C$28.00 to C$30.00. The company traded as high as C$26.05 and last traded at C$26.00, with a volume of 660475 shares changing hands. The stock had previously closed at C$25.33.

Other equities research analysts have also recently issued research reports about the stock. Desjardins raised their target price on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research note on Wednesday, August 20th. National Bankshares lifted their price objective on shares of First Quantum Minerals from C$28.50 to C$29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Stifel Nicolaus lifted their price objective on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Barclays lifted their price objective on shares of First Quantum Minerals from C$25.80 to C$26.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Raymond James Financial lifted their price objective on shares of First Quantum Minerals from C$23.00 to C$25.00 in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.03.

Insiders Place Their Bets

In related news, Senior Officer Zenon Wozniak sold 8,135 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of C$22.82, for a total value of C$185,640.70. Also, Director Alison Cheryl Beckett bought 1,029 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was acquired at an average cost of C$24.59 per share, with a total value of C$25,307.84. Company insiders own 19.35% of the company’s stock.

First Quantum Minerals Price Performance

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 firm’s 50 day simple moving average is C$23.73 and its 200 day simple moving average is C$21.09. The company has a market capitalization of C$21.76 billion, a PE ratio of 104.32, a price-to-earnings-growth ratio of -1.28 and a beta of 1.29.

About First Quantum Minerals

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.