First Quantum Minerals (TSE:FM) Hits New 52-Week High on Analyst Upgrade

First Quantum Minerals Ltd. (TSE:FM) reached a new 52-week high during mid-day trading on Tuesday after Desjardins raised their price target on the stock from C$34.00 to C$40.00. Desjardins currently has a hold rating on the stock. First Quantum Minerals traded as high as C$42.48 and last traded at C$41.41, with a volume of 2330249 shares trading hands. The stock had previously closed at C$40.81.

Several other equities analysts have also recently commented on the stock. Barclays boosted their price objective on shares of First Quantum Minerals from C$38.00 to C$44.30 in a research note on Thursday, January 8th. Citigroup boosted their price target on shares of 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. Raymond James Financial upped their price target on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft downgraded First Quantum Minerals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$35.00 to C$33.00 in a research report on Wednesday, November 26th. Finally, Royal Bank Of Canada boosted their target price on First Quantum Minerals from C$35.00 to C$40.00 in a research report on Wednesday, December 10th. Two 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 data from MarketBeat, First Quantum Minerals currently has an average rating of “Moderate Buy” and a consensus target price of C$38.56.

Insider Activity at First Quantum Minerals

In other news, Director Charles Kevin Mcarthur acquired 10,000 shares of First Quantum Minerals stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the transaction, the director owned 35,000 shares in the company, valued at C$1,017,100. The trade was a 40.00% increase in their ownership of the stock. Insiders acquired a total of 10,474 shares of company stock valued at $304,575 over the last three months. Insiders own 19.35% of the company’s stock.

First Quantum Minerals Stock Up 1.5%

The company has a 50-day moving average of C$35.47 and a two-hundred day moving average of C$29.88. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The company has a market capitalization of C$34.54 billion, a PE ratio of 690.17, a P/E/G ratio of -1.28 and a beta of 1.37.

First Quantum Minerals (TSE:FM) last issued its quarterly 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 company had revenue of C$1.87 billion during the quarter. Sell-side analysts anticipate that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current fiscal year.

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.