First Quantum Minerals (TSE:FM) Reaches New 1-Year High - Still a Buy?

Shares of First Quantum Minerals Ltd. (TSE:FM - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$23.28 and last traded at C$22.65, with a volume of 2685914 shares traded. The stock had previously closed at C$22.84.

Analysts Set New Price Targets

FM has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Canaccord Genuity Group downgraded shares of First Quantum Minerals from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$24.00 to C$20.00 in a research report on Thursday, January 16th. Stifel Canada upgraded shares of First Quantum Minerals to a "hold" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their target price on First Quantum Minerals from C$18.00 to C$17.00 in a report on Thursday, January 30th. Finally, Scotiabank decreased their price target on First Quantum Minerals from C$22.00 to C$21.50 and set a "sector perform" rating for the company in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$21.57.

First Quantum Minerals Trading Down 5.5 %

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 company has a fifty day moving average of C$19.24 and a two-hundred day moving average of C$18.66. The stock has a market capitalization of C$11.23 billion, a price-to-earnings ratio of -7.31, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

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First Quantum Minerals (TSE:FM - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 earned ($0.37) earnings per share. On average, research analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Insider Transactions at First Quantum Minerals

In other news, Director Charles Kevin Mcarthur acquired 25,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of C$17.23 per share, for a total transaction of C$430,842.13. Also, Director Simon John Scott bought 1,397 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average price of C$18.57 per share, with a total value of C$25,942.29. 19.35% of the stock is currently owned by corporate insiders.

First Quantum Minerals Company Profile

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.