What Next for First Quantum Minerals Limited Stock After Reaching 52-Week High?

 What Next for First Quantum Minerals Limited Stock After Reaching 52 Week High?

The stock of First Quantum Minerals Limited (TSE:FM) hit a new 52-week high and has $21.86 target or 55.00% above today’s $14.10 share price. The 5 months bullish chart indicates low risk for the $10.13 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $21.86 price target is reached, the company will be worth $5.57 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 1.53 million shares traded hands. First Quantum Minerals Limited (TSE:FM) has risen 170.22% since April 7, 2016 and is uptrending. It has outperformed by 164.07% 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 -15.39% below today’s ($14.1) stock price. First Quantum Minerals has been the topic of 64 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained First Quantum Minerals Limited (TSE:FM) on Friday, November 6 with “Sector Perform” rating. TD Securities upgraded First Quantum Minerals Limited (TSE:FM) on Wednesday, July 20 to “Buy” rating. Barclays Capital maintained First Quantum Minerals Limited (TSE:FM) on Wednesday, October 7 with “Overweight” rating. The rating was maintained by RBC Capital Markets on Friday, April 29 with “Sector Perform”. Scotia Capital maintained it with “Focus Stock” rating and $14.50 target price in Friday, October 28 report. The firm earned “Neutral” rating on Wednesday, October 7 by JP Morgan. BNP Paribas maintained the stock with “” rating in Friday, July 29 report. On Tuesday, October 25 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The stock of First Quantum Minerals Limited (TSE:FM) earned “Neutral” rating by Goldman Sachs on Friday, July 24. The company was upgraded on Wednesday, July 22 by National Bank Canada.

More notable recent First Quantum Minerals Limited (TSE:FM) news were published by: Business.Financialpost.com which released: “First Quantum Minerals Ltd issues ‘going concern’ warning amid high debt, weak …” on February 19, 2016, also Business.Financialpost.com with their article: “First Quantum Minerals Ltd upgraded to buy as liquidity improves” published on July 20, 2016, Business.Financialpost.com published: “Teck Resources Ltd and First Quantum Minerals Ltd upgraded at Canaccord” on July 25, 2016. 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 sells Kevitsa mine in Finland for US$712 million to …” with publication date: March 10, 2016.

First Quantum Minerals Ltd. is an international mining company. The company has a market cap of $10.13 billion. The Firm is engaged in mineral exploration, mine engineering and construction, development and mining. It has a 22.2 P/E ratio. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements and pyrite.

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