First Quantum Minerals (TSE:FM) Hits New 52-Week High – Time to Buy?

by · The Cerbat Gem

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$42.20 and last traded at C$41.81, with a volume of 381337 shares traded. The stock had previously closed at C$41.10.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FM shares. Royal Bank Of Canada upped their price objective on shares of First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. CIBC increased their target price on First Quantum Minerals from C$26.00 to C$36.00 in a report on Friday, October 10th. Citigroup raised their price target on First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut First Quantum Minerals from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$35.00 to C$33.00 in a research note on Wednesday, November 26th. Finally, Morgan Stanley increased their target price on shares of First Quantum Minerals from C$30.20 to C$33.50 in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$37.13.

Get Our Latest Stock Analysis on First Quantum Minerals

First Quantum Minerals Trading Up 0.2%

The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The company’s 50 day simple moving average is C$34.63 and its two-hundred day simple moving average is C$29.42. The company has a market cap of C$34.34 billion, a PE ratio of 686.17, a price-to-earnings-growth ratio of -1.28 and a beta of 1.37.

First Quantum Minerals (TSE:FM – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. The company had revenue of C$1.87 billion during the quarter. As a group, sell-side analysts anticipate that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles Kevin Mcarthur acquired 10,000 shares of First Quantum Minerals stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the purchase, the director directly owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This trade represents a 40.00% increase in their ownership of the stock. Over the last ninety days, insiders purchased 10,474 shares of company stock worth $304,575. Corporate insiders own 19.35% of the company’s stock.

About First Quantum Minerals

(Get Free Report)

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.

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