First Quantum Minerals (TSE:FM) Hits New 12-Month High on Analyst Upgrade

First Quantum Minerals Ltd. (TSE:FM) shares 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.

A number of other analysts have also weighed in on FM. Royal Bank Of Canada raised their price target on shares of 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 shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Citigroup lifted their target price 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. Jefferies Financial Group upped their price objective on First Quantum Minerals from C$38.00 to C$47.00 in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and cut their target price for the stock from C$35.00 to C$33.00 in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$38.56.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Charles Kevin Mcarthur acquired 10,000 shares of First Quantum Minerals stock in a transaction dated Friday, October 31st. The stock was purchased at an average cost of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the acquisition, the director directly owned 35,000 shares of the company’s stock, valued at C$1,017,100. This represents a 40.00% increase in their ownership of the stock. Insiders purchased 10,474 shares of company stock worth $304,575 over the last quarter. 19.35% of the stock is owned by corporate insiders.

First Quantum Minerals Price Performance

The stock has a market capitalization of C$34.96 billion, a PE ratio of 698.50, a P/E/G ratio of -1.28 and a beta of 1.37. The firm’s 50 day simple moving average is C$35.74 and its 200 day simple moving average is C$30.01. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share 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. As a group, equities analysts forecast that First Quantum Minerals Ltd. will post 0.55872 EPS 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.