First Quantum Minerals (TSE:FM) Reaches New 12-Month High - Time to Buy?

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FM shares. Scotiabank dropped their price objective on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a "sector perform" rating for the company in a report on Thursday, January 16th. Royal Bank of Canada lifted their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Barclays decreased their price target on shares of First Quantum Minerals from C$25.00 to C$23.40 in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group downgraded shares of First Quantum Minerals from a "buy" rating to a "hold" rating and reduced their price objective for the stock from C$24.00 to C$20.00 in a research report on Thursday, January 16th. Ten 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 stock currently has a consensus rating of "Hold" and an average target price of C$21.57.

First Quantum Minerals Stock Up 0.2 %

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 market capitalization of C$12.62 billion, a price-to-earnings ratio of -8.22, a PEG ratio of -1.28 and a beta of 1.73. The firm's 50 day simple moving average is C$19.01 and its 200-day simple moving average is C$18.50.

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First Quantum Minerals (TSE:FM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported C$0.04 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 period in the previous year, the business earned ($0.37) earnings per share. On average, sell-side analysts anticipate that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Charles Kevin Mcarthur purchased 25,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of C$17.23 per share, with a total value of C$430,842.13. 19.35% of the stock is currently owned by company 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.