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

Key Points

• First Quantum Minerals shares reached a new 52-week high of C$32.76 after Citigroup raised its price target from C$26.00 to C$39.00, supporting a current buy rating.
• Multiple analysts have upgraded their target prices for First Quantum Minerals, reflecting strong interest, with a consensus rating of "Moderate Buy" and an average target price of C$28.01.
• The company, with a market cap of C$27.22 billion, produces various minerals including copper and gold, and has a high debt-to-equity ratio of 56.41, indicating potential financial risk.

Shares of First Quantum Minerals Ltd. (TSE:FM - Get Free Report) hit a new 52-week high on Wednesday after Citigroup raised their price target on the stock from C$26.00 to C$39.00. Citigroup currently has a buy rating on the stock. First Quantum Minerals traded as high as C$32.76 and last traded at C$32.71, with a volume of 740228 shares changing hands. The stock had previously closed at C$31.42.

FM has been the subject of several other research reports. Royal Bank Of Canada upped their target price on First Quantum Minerals from C$28.00 to C$30.00 in a research report on Wednesday, September 10th. Stifel Nicolaus boosted 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 6th. Jefferies Financial Group boosted their price target on First Quantum Minerals from C$33.00 to C$38.00 in a research note on Monday. Scotiabank boosted their price target on First Quantum Minerals from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Finally, TD Securities boosted their price target on First Quantum Minerals from C$25.00 to C$30.00 and gave the stock a "hold" rating in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$28.01.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 8,135 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of C$22.82, for a total transaction of C$185,640.70. 19.35% of the stock is currently owned by corporate insiders.

First Quantum Minerals Price Performance

The stock has a market cap of C$27.22 billion, a price-to-earnings ratio of 130.52, a price-to-earnings-growth ratio of -1.28 and a beta of 1.58. The business's 50-day simple moving average is C$25.63 and its two-hundred day simple moving average is C$22.35. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41.

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.

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