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

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as C$21.75 and last traded at C$21.21, with a volume of 4305493 shares changing hands. The stock had previously closed at C$20.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Jefferies Financial Group reduced their target price on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. TD Securities increased their target price 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. Canaccord Genuity Group cut First Quantum Minerals from a "buy" rating to a "hold" rating and reduced their target price for the company from C$24.00 to C$20.00 in a report on Thursday, January 16th. Royal Bank of Canada increased their price target on First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of "Hold" and an average price target of C$21.57.

First Quantum Minerals Stock Performance

The firm has a 50-day moving average price of C$18.80 and a 200 day moving average price of C$18.29. The firm has a market capitalization of C$11.94 billion, a PE ratio of -7.77, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

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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 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter last year, the company earned ($0.37) earnings per share. Research analysts expect that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Insider Activity at First Quantum Minerals

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

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.