First Quantum Minerals Limited Surges to 52-Week High, Is Now Top Performer

 First Quantum Minerals Limited Surges to 52 Week High, Is Now Top Performer

The stock of First Quantum Minerals Limited (TSE:FM) hit a new 52-week high and has $15.70 target or 3.00% above today’s $15.24 share price. The 8 months bullish chart indicates low risk for the $11.17B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $15.70 price target is reached, the company will be worth $335.10 million 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 430,281 shares traded hands. First Quantum Minerals Limited (TSE:FM) has risen 78.14% since April 19, 2016 and is uptrending. It has outperformed by 72.81% the S&P500.

First Quantum Minerals Limited (TSE:FM) Ratings Coverage

Out of 15 analysts covering First Quantum Minerals (TSE:FM), 6 rate it a “Buy”, 5 “Sell”, while 4 “Hold”. This means 40% are positive. $20 is the highest target while $3.50 is the lowest. The $11.92 average target is -21.78% below today’s ($15.24) stock price. First Quantum Minerals has been the topic of 65 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital with “Focus Stock” on Friday, October 28. The stock of First Quantum Minerals Limited (TSE:FM) has “Sector Perform” rating given on Thursday, July 30 by RBC Capital Markets. On Tuesday, August 4 the stock rating was maintained by Barclays Capital with “Overweight”. The stock of First Quantum Minerals Limited (TSE:FM) has “Sector Perform” rating given on Tuesday, October 6 by RBC Capital Markets. The stock of First Quantum Minerals Limited (TSE:FM) has “Neutral” rating given on Wednesday, October 7 by JP Morgan. The firm earned “Overweight” rating on Wednesday, October 7 by Barclays Capital. The stock of First Quantum Minerals Limited (TSE:FM) earned “Neutral” rating by Goldman Sachs on Friday, July 24. The firm has “Sector Perform” rating given on Monday, May 30 by RBC Capital Markets. On Friday, July 8 the stock rating was downgraded by Berenberg to “Sell”. 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 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 $11.17 billion. The Firm is engaged in mineral exploration, mine engineering and construction, development and mining. It has a 24.04 P/E ratio. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements and pyrite.

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