First Quantum Minerals (TSE:FM) Sets New 52-Week High – Should You Buy?

First Quantum Minerals Ltd. (TSE:FM)’s share price hit a new 52-week high on Friday . The stock traded as high as C$35.40 and last traded at C$35.21, with a volume of 1388329 shares trading hands. The stock had previously closed at C$34.23.

Wall Street Analyst Weigh In

A number of research firms recently commented on FM. 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. Morgan Stanley lifted their price target on shares of First Quantum Minerals from C$30.20 to C$33.50 in a research report on Tuesday, December 16th. Royal Bank Of Canada upped their price target on First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. JPMorgan Chase & Co. upgraded First Quantum Minerals from a “neutral” rating to an “overweight” rating and increased their price objective for the company from C$20.00 to C$42.00 in a research report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$35.00 to C$33.00 in a research note on Wednesday, November 26th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals presently has an average rating of “Moderate Buy” and a consensus price target of C$34.57.

First Quantum Minerals Stock Performance

The firm’s 50 day simple moving average is C$30.97 and its 200-day simple moving average is C$26.90. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The company has a market capitalization of C$29.34 billion, a price-to-earnings ratio of 586.17, a P/E/G ratio of -1.28 and a beta of 1.43.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, October 28th. The company reported C($0.02) EPS for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.The business had revenue of C$1.87 billion during the quarter. Analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Insiders Place Their Bets

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 10,000 shares of the stock in a transaction on Friday, October 31st. The shares were bought at an average price 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 in the company, valued at C$1,017,100. The trade was a 40.00% increase in their position. Over the last 90 days, insiders bought 10,474 shares of company stock worth $304,575. 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.