First Quantum Minerals (TSE:FM) Sets New 12-Month High – Should You Buy?

First Quantum Minerals Ltd. (TSE:FM)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$46.36 and last traded at C$45.53, with a volume of 300390 shares trading hands. The stock had previously closed at C$43.39.

Analysts Set New Price Targets

Several brokerages have weighed in on FM. Canaccord Genuity Group dropped their price objective on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and raised their price objective for the company from C$28.00 to C$37.00 in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price objective for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. Stifel Nicolaus raised their price objective on First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Scotia dropped their price objective on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 30th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$43.86.

First Quantum Minerals Trading Up 5.1%

The stock has a market capitalization of C$37.77 billion, a PE ratio of -190.04, a price-to-earnings-growth ratio of -1.28 and a beta of 1.36. The firm has a 50-day moving average price of C$37.85 and a 200-day moving average price of C$36.67. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM) last announced its earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share (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 business had revenue of C$1.95 billion for the quarter. As a group, equities analysts forecast 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.