First Quantum Minerals (TSE:FM) Reaches New 12-Month High – Here’s Why

First Quantum Minerals Ltd. (TSE:FM) shares reached a new 52-week high during trading 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.

Analyst Ratings Changes

A number of brokerages have recently commented on FM. Royal Bank Of Canada boosted their price target on First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Raymond James Financial upped their price target on First Quantum Minerals from C$25.00 to C$29.00 in a research report on Friday, October 10th. CIBC raised their price target on shares of First Quantum Minerals from C$26.00 to C$36.00 in a research note on Friday, October 10th. Stifel Nicolaus upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$26.00 to C$38.00 in a report on Tuesday, October 21st. Finally, Morgan Stanley increased their target price on shares of First Quantum Minerals from C$30.20 to C$33.50 in a report on Tuesday. 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$34.57.

First Quantum Minerals Trading Up 2.2%

The business’s 50 day simple moving average is C$30.90 and its 200 day simple moving average is C$26.75. The stock has a market cap of C$29.18 billion, a price-to-earnings ratio of 583.00, a PEG ratio of -1.28 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM) last issued 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 firm had revenue of C$1.87 billion during the quarter. On average, research analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 10,000 shares of First Quantum Minerals stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of C$29.06 per share, for a total transaction of C$290,600.00. Following the purchase, the director owned 35,000 shares of the company’s stock, valued at C$1,017,100. The trade was a 40.00% increase in their position. In the last ninety days, insiders purchased 10,474 shares of company stock worth $304,575. Insiders own 19.35% of the company’s stock.

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.