First Quantum Minerals (TSE:FM) Sets New 1-Year High - Here's Why

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as C$23.43 and last traded at C$23.29, with a volume of 261752 shares trading hands. The stock had previously closed at C$22.47.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BMO Capital Markets upgraded First Quantum Minerals to a "strong-buy" rating in a report on Tuesday, April 15th. Scotiabank upped their price target on shares of First Quantum Minerals from C$22.50 to C$24.00 in a report on Monday, June 16th. National Bankshares cut their target price on shares of First Quantum Minerals from C$25.50 to C$24.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Barclays increased their target price on shares of First Quantum Minerals from C$21.40 to C$21.60 in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada increased their target price on shares of 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. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$21.75.

First Quantum Minerals Stock Down 0.9%

The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The company has a market capitalization of C$13.58 billion, a PE ratio of -8.84, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The business's 50 day simple moving average is C$20.28 and its 200 day simple moving average is C$19.29.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett acquired 1,388 shares of First Quantum Minerals stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average cost of C$19.25 per share, with a total value of C$26,719.00. 19.35% of the stock is owned by insiders.

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.