First Quantum Minerals (TSE:FM) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

First Quantum Minerals Ltd. (TSE:FM) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$17.46 and traded as high as C$18.47. First Quantum Minerals shares last traded at C$18.37, with a volume of 1,562,935 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FM shares. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$19.40 to C$20.20 in a report on Thursday, September 19th. CIBC increased their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. National Bankshares raised their price objective on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Cormark dropped their price objective on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, First Quantum Minerals has an average rating of “Hold” and an average target price of C$20.72.

First Quantum Minerals Trading Up 1.6 %

The business’s 50-day moving average price is C$17.72 and its 200 day moving average price is C$17.46. The company has a market cap of C$15.32 billion, a P/E ratio of -7.09, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35.

Insider Activity

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. Insiders own 19.35% of the company’s stock.

About First Quantum Minerals

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.