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

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

Analysts Set New Price Targets

FM has been the subject of several analyst reports. Jefferies Financial Group lowered their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Morgan Stanley increased their price target on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. TD Securities raised their price objective on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a "hold" rating in a report on Thursday, February 13th. Barclays lowered their target price on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's 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 3.4 %

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 firm's 50 day simple moving average is C$18.76 and its 200-day simple moving average is C$18.25. The company has a market capitalization of C$11.94 billion, a price-to-earnings ratio of -7.77, a PEG 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 earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (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 in the previous year, the business posted ($0.37) EPS. 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, Director Simon John Scott purchased 1,397 shares of the company's stock in a transaction dated 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. Also, Director Charles Kevin Mcarthur acquired 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of C$17.23 per share, for a total transaction 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.

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