First Quantum Minerals (TSE:FM) Sets New 12-Month High – Time to Buy?

First Quantum Minerals Ltd. (TSE:FM) hit a new 52-week high on Tuesday . The company traded as high as C$46.10 and last traded at C$43.52, with a volume of 3193913 shares traded. The stock had previously closed at C$42.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. TD Securities boosted their price objective on shares of First Quantum Minerals from C$41.00 to C$42.00 and gave the company a “hold” rating in a research report on Thursday, February 12th. Barclays cut their price objective on shares of First Quantum Minerals from C$44.60 to C$42.20 in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce boosted their price objective on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised shares of First Quantum Minerals from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from C$28.00 to C$37.00 in a research report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$42.91.

First Quantum Minerals Stock Up 2.5%

The firm has a market capitalization of C$36.04 billion, a P/E ratio of -181.33, a PEG ratio of -1.28 and a beta of 1.49. The firm’s 50-day moving average is C$35.88 and its 200 day moving average is C$35.82. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. The company had revenue of C$1.95 billion during the quarter. As a group, equities research analysts predict that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal year.

About First Quantum Minerals

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.