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

First Quantum Minerals Ltd. (TSE:FM) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$37.64 and last traded at C$37.41, with a volume of 201158 shares traded. The stock had previously closed at C$36.80.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Scotiabank boosted their target price on shares of First Quantum Minerals from C$34.00 to C$35.00 in a research note on Tuesday, October 28th. Morgan Stanley boosted their price objective on shares of First Quantum Minerals from C$30.20 to C$33.50 in a research report on Tuesday, December 16th. TD Securities upped their price objective on First Quantum Minerals from C$30.00 to C$35.00 in a report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft downgraded First Quantum Minerals from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$35.00 to C$33.00 in a research report on Wednesday, November 26th. Finally, CIBC increased their price target on First Quantum Minerals from C$26.00 to C$36.00 in a report on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals has an average rating of “Moderate Buy” and a consensus target price of C$34.57.

First Quantum Minerals Stock Performance

The business has a 50-day moving average of C$31.95 and a two-hundred day moving average of C$27.81. 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 has a market cap of C$30.67 billion, a P/E ratio of 612.83, a P/E/G ratio of -1.28 and a beta of 1.43.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) 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 business had revenue of C$1.87 billion for the quarter. On average, sell-side analysts predict 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 the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average cost of C$29.06 per share, with a total value of C$290,600.00. Following the transaction, the director directly owned 35,000 shares of the company’s stock, valued at C$1,017,100. This trade represents a 40.00% increase in their position. Insiders have bought a total of 10,474 shares of company stock worth $304,575 in the last 90 days. Corporate insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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.