First Quantum Minerals (TSE:FM) Reaches New 1-Year High – Should You Buy?

First Quantum Minerals Ltd. (TSE:FM)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$23.24 and last traded at C$23.12, with a volume of 3111818 shares traded. The stock had previously closed at C$21.71.

Analyst Ratings Changes

Several research firms have recently weighed in on FM. TD Securities increased their price target on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Jefferies Financial Group dropped their target price on First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research report on Thursday, January 30th. Scotiabank decreased their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, Barclays dropped their target price on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$21.57.

First Quantum Minerals Stock Up 6.5 %

The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The business has a 50-day moving average price of C$18.93 and a 200 day moving average price of C$18.42. The stock has a market capitalization of C$13.12 billion, a P/E ratio of -8.54, a P/E/G ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter in the previous year, the business posted ($0.37) EPS. On average, equities analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

Insider Activity

In other First Quantum Minerals news, Director Simon John Scott acquired 1,397 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were bought at an average price of C$18.57 per share, with a total value of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 40,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total value of C$844,400.00. Corporate insiders own 19.35% of the company’s stock.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.