First Quantum Minerals (TSE:FM) Reaches New 52-Week High - Here's What Happened

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

Analysts Set New Price Targets

FM has been the subject of several research analyst reports. BMO Capital Markets raised First Quantum Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays upped their price objective on shares of First Quantum Minerals from C$21.40 to C$21.60 in a research report on Wednesday, May 7th. Raymond James Financial lifted their target price on shares of First Quantum Minerals from C$20.00 to C$21.00 in a research report on Friday, April 4th. Desjardins raised shares of First Quantum Minerals to a "hold" rating in a research note on Thursday, April 3rd. Finally, Morgan Stanley decreased their price target on shares of First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. Five research 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$21.75.

First Quantum Minerals Stock Performance

The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The stock's fifty day simple moving average is C$20.28 and its 200 day simple moving average is C$19.31. The company has a market cap of C$13.58 billion, a price-to-earnings ratio of -8.84, a P/E/G ratio of -1.28 and a beta of 1.73.

Insider Activity

In other news, Director Alison Cheryl Beckett acquired 1,388 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average cost of C$19.25 per share, for a total transaction of C$26,719.00. Company 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.