First Quantum Minerals (TSE:FM) Sets New 12-Month High – Here’s What Happened

First Quantum Minerals Ltd. (TSE:FM)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$46.10 and last traded at C$43.52, with a volume of 3193913 shares. The stock had previously closed at C$42.44.

Analysts Set New Price Targets

A number of equities analysts recently commented on FM shares. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$38.00 to C$50.00 in a research report on Thursday, March 12th. TD Securities raised their price target on shares of First Quantum Minerals from C$41.00 to C$42.00 and gave the stock a “hold” rating in a research report on Thursday, February 12th. Canaccord Genuity Group lowered their price target on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and raised their price target for the stock from C$28.00 to C$37.00 in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$40.00 to C$50.00 in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$43.86.

First Quantum Minerals Trading Down 1.8%

The company has a debt-to-equity ratio of 54.67, a current ratio of 1.76 and a quick ratio of 1.41. The firm has a market capitalization of C$37.52 billion, a P/E ratio of -188.75, a price-to-earnings-growth ratio of -1.28 and a beta of 1.49. The business’s 50-day moving average is C$36.51 and its 200 day moving average is C$36.04.

First Quantum Minerals (TSE:FM) last released its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. The firm had revenue of C$1.95 billion during the quarter. As a group, analysts anticipate that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

About First Quantum Minerals

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.