First Quantum Minerals (TSE:FM) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

First Quantum Minerals Ltd. (TSE:FM)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$36.48 and traded as high as C$40.56. First Quantum Minerals shares last traded at C$39.72, with a volume of 2,509,407 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Barclays lowered their price target on First Quantum Minerals from C$44.60 to C$42.20 in a research note on Monday, May 4th. Morgan Stanley raised First Quantum Minerals from an “equal” rating to an “overweight” rating and upped their price target for the company from C$37.70 to C$42.20 in a report on Tuesday, May 19th. TD Securities raised their price objective on First Quantum Minerals from C$41.00 to C$42.00 and gave the stock a “hold” rating in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group decreased their price objective on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$43.86.

First Quantum Minerals Price Performance

The stock has a market cap of C$35.93 billion, a price-to-earnings ratio of -180.79, a price-to-earnings-growth ratio of -1.28 and a beta of 1.36. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67. The company’s 50-day moving average is C$37.85 and its 200-day moving average is C$36.62.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Wednesday, April 29th. The company reported C($0.25) earnings per share 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 for the quarter. Equities research analysts expect that First Quantum Minerals Ltd. will post 0.55872 earnings per share 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.