First Quantum Minerals (TSE:FM) Reaches New 12-Month High After Analyst Upgrade

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from C$21.60 to C$25.80. Barclays currently has an outperform rating on the stock. First Quantum Minerals traded as high as C$25.06 and last traded at C$25.05, with a volume of 238824 shares traded. The stock had previously closed at C$24.19.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 16th. Raymond James Financial upgraded shares of First Quantum Minerals to a "hold" rating in a report on Monday, June 30th. Morgan Stanley decreased their price target on First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. Scotiabank raised their price target on First Quantum Minerals from C$22.50 to C$24.00 in a research report on Monday, June 16th. Finally, Royal Bank Of Canada lifted their price objective on First Quantum Minerals from C$24.00 to C$25.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$22.05.

Insiders Place Their Bets

In other news, Director Alison Cheryl Beckett acquired 1,029 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were bought at an average price of C$24.59 per share, with a total value of C$25,307.84. 19.35% of the stock is owned by insiders.

First Quantum Minerals Stock Performance

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 firm has a market capitalization of C$14.23 billion, a PE ratio of -9.27, a P/E/G ratio of -1.28 and a beta of 1.73. The firm has a fifty day moving average price of C$20.97 and a 200 day moving average price of C$19.49.

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.