First Quantum Minerals (TSE:FM) Sets New 52-Week High - Here's Why

Key Points

• First Quantum Minerals shares reached a new 52-week high of C$27.00 during trading, closing at C$26.97 with a trading volume of over 2.7 million shares.
• Wall Street analysts have mixed reviews on the stock, with price targets ranging from C$24.00 to C$29.00, and an average rating of "Moderate Buy."
• Insider activity includes a sale of 8,135 shares by Senior Officer Zenon Wozniak and a purchase of 1,029 shares by Director Alison Cheryl Beckett, indicating some interest from insiders.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as C$27.00 and last traded at C$26.97, with a volume of 2723554 shares traded. The stock had previously closed at C$26.74.

Analyst Upgrades and Downgrades

FM has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Scotiabank boosted their price target on shares of First Quantum Minerals from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada boosted their price target on shares of First Quantum Minerals from C$28.00 to C$30.00 in a research report on Wednesday, September 10th. Raymond James Financial boosted their price target on shares of First Quantum Minerals from C$23.00 to C$25.00 in a research report on Thursday, August 21st. Finally, Barclays boosted 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. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals has a consensus rating of "Moderate Buy" and a consensus target price of C$24.03.

First Quantum Minerals Price Performance

The firm has a market cap of C$22.52 billion, a P/E ratio of 108.00, a PEG ratio of -1.28 and a beta of 1.29. 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 stock's 50-day simple moving average is C$24.03 and its two-hundred day simple moving average is C$21.49.

Insiders Place Their Bets

In other news, Senior Officer Zenon Wozniak sold 8,135 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of C$22.82, for a total transaction 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 bought at an average cost of C$24.59 per share, with a total value of C$25,307.84. 19.35% of the stock is currently owned by insiders.

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.