First Quantum Minerals (TSE:FM) Sets New 1-Year 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) reached a new 52-week high during trading 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 changing hands. The stock had previously closed at C$25.33.

FM has been the subject of a number of other reports. Barclays raised their price objective on 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. Scotiabank lifted their price objective on First Quantum Minerals from C$27.00 to C$28.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Raymond James Financial boosted their price objective on First Quantum Minerals from C$23.00 to C$25.00 in a research report on Thursday, August 21st. National Bankshares upped their price target on First Quantum Minerals from C$28.50 to C$29.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Finally, Stifel Nicolaus boosted their price objective on First Quantum Minerals from C$25.00 to C$26.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Two research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$24.03.

Insider Activity

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 8,135 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of C$22.82, for a total value of C$185,640.70. Also, Director Alison Cheryl Beckett bought 1,029 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were acquired at an average price of C$24.59 per share, with a total value of C$25,307.84. Company insiders own 19.35% of the company's stock.

First Quantum Minerals Stock Performance

The company has a market capitalization of C$22.50 billion, a PE ratio of 107.88, a price-to-earnings-growth ratio of -1.28 and a beta of 1.29. The business's fifty day moving average is C$23.79 and its two-hundred day moving average is C$21.26. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41.

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.