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

Key Points

• First Quantum Minerals' share price reached a new 52-week high of C$28.05, closing at C$27.57 with a trading volume of 2,888,254 shares.
• Analysts have provided mixed ratings for the stock, with price target increases from several brokerages, notably Royal Bank of Canada raising its target to C$30.00, while TD Securities reduced their target to C$24.00.
• Insider activity includes a senior officer selling over 8,000 shares at an average price of C$22.82, while a director bought over 1,000 shares at an average price of C$24.59.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as C$28.05 and last traded at C$27.57, with a volume of 2888254 shares. The stock had previously closed at C$27.00.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FM. Scotiabank increased 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. Royal Bank Of Canada increased their price target on First Quantum Minerals from C$28.00 to C$30.00 in a research note on Wednesday, September 10th. TD Securities reduced their price target on First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating on the stock in a research note on Friday, July 25th. Desjardins increased their target price on 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 20th. Finally, National Bankshares increased their target price on First Quantum Minerals from C$28.50 to C$29.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$24.03.

First Quantum Minerals Trading Up 2.1%

The stock has a market capitalization of C$23.00 billion, a price-to-earnings ratio of 110.28, a P/E/G ratio of -1.28 and a beta of 1.29. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The firm has a fifty day moving average of C$24.11 and a 200-day moving average of C$21.57.

Insider Buying and Selling at First Quantum Minerals

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

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