First Quantum Minerals Limited’s Stock Is Buy After Reaching 52-Week High

 First Quantum Minerals Limited's Stock Is Buy After Reaching 52 Week High

The stock of First Quantum Minerals Limited (TSE:FM) hit a new 52-week high and has $15.82 target or 28.00% above today’s $12.36 share price. The 6 months bullish chart indicates low risk for the $8.87B company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $15.82 price target is reached, the company will be worth $2.48 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.51M shares traded hands. First Quantum Minerals Limited (TSE:FM) has risen 87.63% since March 28, 2016 and is uptrending. It has outperformed by 84.62% the S&P500.

First Quantum Minerals Limited (TSE:FM) Ratings Coverage

Out of 14 analysts covering First Quantum Minerals (TSE:FM), 6 rate it a “Buy”, 4 “Sell”, while 4 “Hold”. This means 43% are positive. $20 is the highest target while $3.50 is the lowest. The $11.93 average target is -3.48% below today’s ($12.36) stock price. First Quantum Minerals has been the topic of 64 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of First Quantum Minerals Limited (TSE:FM) has “Market Perform (Speculative)” rating given on Thursday, February 18 by BMO Capital Markets. RBC Capital Markets maintained First Quantum Minerals Limited (TSE:FM) on Thursday, July 21 with “Sector Perform” rating. Barclays Capital maintained First Quantum Minerals Limited (TSE:FM) on Wednesday, October 7 with “Overweight” rating. The rating was maintained by Scotia Capital with “Focus Stock” on Friday, October 28. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, August 4. The firm has “Buy” rating given on Friday, August 7 by TD Securities. On Tuesday, October 25 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The firm earned “Sector Perform” rating on Thursday, July 30 by RBC Capital Markets. The firm earned “Buy” rating on Wednesday, October 7 by Citigroup. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, November 6 report.

More notable recent First Quantum Minerals Limited (TSE:FM) news were published by: Business.Financialpost.com which released: “First Quantum Minerals Ltd upgraded to buy as liquidity improves” on July 20, 2016, also Business.Financialpost.com with their article: “Teck Resources Ltd and First Quantum Minerals Ltd upgraded at Canaccord” published on July 25, 2016, Business.Financialpost.com published: “First Quantum Minerals Ltd announces $1.25B equity offering” on May 20, 2015. More interesting news about First Quantum Minerals Limited (TSE:FM) were released by: Moodys.com and their article: “Moody’s downgrades FQM’s CFR to Caa1, senior unsecured notes to Caa2; negative …” published on January 08, 2016 as well as Business.Financialpost.com‘s news article titled: “First Quantum Minerals Ltd issues ‘going concern’ warning amid high debt, weak …” with publication date: February 19, 2016.

First Quantum Minerals Ltd. is an international mining company. The company has a market cap of $8.87 billion. The Firm is engaged in mineral exploration, mine engineering and construction, development and mining. It has a 19.55 P/E ratio. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements and pyrite.

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