First Quantum Minerals (TSE:FM) Hits New 52-Week High on Analyst Upgrade

Key Points

• First Quantum Minerals' stock reached a new 52-week high of C$26.05 after the Royal Bank of Canada raised its price target from C$28.00 to C$30.00.
• Analysts' ratings for the stock include two "Strong Buy" recommendations, three "Buy" ratings, and seven "Hold" ratings, with a consensus target price of C$24.03.
• The company has a diverse portfolio that includes copper, nickel, gold, and other minerals, and a market capitalization of C$21.66 billion.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price hit a new 52-week high on Thursday after Royal Bank Of Canada raised their price target on the stock from C$28.00 to C$30.00. The company traded as high as C$26.05 and last traded at C$26.00, with a volume of 660475 shares. The stock had previously closed at C$25.33.

FM has been the topic of several other reports. Barclays lifted their price objective on shares of First Quantum Minerals from C$25.80 to C$26.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Raymond James Financial lifted their price target on First Quantum Minerals from C$23.00 to C$25.00 in a report on Thursday, August 21st. TD Securities decreased their price objective on First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating for the company in a report on Friday, July 25th. National Bankshares lifted their target price on First Quantum Minerals from C$28.50 to C$29.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Finally, Desjardins increased their price target on First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$24.03.

Insider Buying and Selling at First Quantum Minerals

In related news, Director Alison Cheryl Beckett purchased 1,029 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was acquired at an average price of C$24.59 per share, for a total transaction of C$25,307.84. Also, Senior Officer Zenon Wozniak sold 8,135 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of C$22.82, for a total value of C$185,640.70. 19.35% of the stock is currently owned by corporate insiders.

First Quantum Minerals Price 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 cap of C$21.66 billion, a price-to-earnings ratio of 103.84, a price-to-earnings-growth ratio of -1.28 and a beta of 1.29. The stock's fifty day moving average price is C$23.71 and its 200-day moving average price is C$21.03.

About First Quantum Minerals

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.

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