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

Shares of First Quantum Minerals Ltd. (TSE:FM) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$23.24 and last traded at C$23.12, with a volume of 3111818 shares. The stock had previously closed at C$21.71.

Analyst Ratings Changes

Several research firms have recently commented on FM. JPMorgan Chase & Co. reduced their target price on First Quantum Minerals from C$18.00 to C$17.00 in a research note on Thursday, January 30th. Royal Bank of Canada increased their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Morgan Stanley boosted their target price 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 report on Thursday, December 12th. TD Securities increased their price target on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. Finally, Barclays lowered their price objective on First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$21.57.

First Quantum Minerals Stock Up 0.2 %

The firm has a market cap 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 has a 50-day moving average of C$19.01 and a two-hundred day moving average of C$18.50. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data 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 net margin of 32.41% and a negative return on equity of 14.05%. During the same period in the prior year, the business earned ($0.37) EPS. As a group, sell-side analysts predict that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction on 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 acquired 25,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of C$17.23 per share, with a total value of C$430,842.13. Insiders own 19.35% of the company’s stock.

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.