First Quantum Minerals (TSE:FM) Reaches New 1-Year High – Still a Buy?

First Quantum Minerals Ltd. (TSE:FM) reached a new 52-week high on Wednesday . The company traded as high as C$23.28 and last traded at C$22.65, with a volume of 2685914 shares trading hands. The stock had previously closed at C$22.84.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FM shares. TD Securities increased their price target on First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. Canaccord Genuity Group lowered First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$24.00 to C$20.00 in a report on Thursday, January 16th. Barclays decreased their price target on First Quantum Minerals from C$25.00 to C$23.40 in a research report on Thursday, January 30th. JPMorgan Chase & Co. cut their price objective on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research report on Thursday, January 30th. Finally, Jefferies Financial Group decreased their target price on shares of First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals presently has an average rating of “Hold” and a consensus price target of C$21.57.

First Quantum Minerals Stock Down 0.8 %

The stock has a market capitalization of C$12.86 billion, a price-to-earnings ratio of -8.37, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The stock has a 50 day moving average price of C$19.14 and a 200 day moving average price of C$18.58.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same period in the previous year, the company posted ($0.37) earnings per share. As a group, analysts forecast that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Insider Buying and Selling

In other news, Director Charles Kevin Mcarthur acquired 25,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of C$17.23 per share, for a total transaction of C$430,842.13. Also, Director Simon John Scott bought 1,397 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average price of C$18.57 per share, for a total transaction of C$25,942.29. 19.35% of the stock is owned by corporate insiders.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.