First Quantum Minerals (TSE:FM) Stock Price Passes Above Two Hundred Day Moving Average of $16.40

First Quantum Minerals Ltd. (TSE:FM)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.40 and traded as high as C$17.95. First Quantum Minerals shares last traded at C$17.36, with a volume of 1,841,135 shares traded.

Analyst Ratings Changes

FM has been the topic of several analyst reports. CIBC boosted their price target on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Raymond James boosted their price target on shares of First Quantum Minerals from C$19.00 to C$21.00 in a report on Thursday, May 23rd. Eight Capital boosted their target price on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research note on Thursday, July 11th. JPMorgan Chase & Co. dropped their target price on shares of First Quantum Minerals from C$20.00 to C$16.00 in a research note on Friday, July 19th. Finally, Royal Bank of Canada dropped their target price on shares of First Quantum Minerals from C$25.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, First Quantum Minerals currently has an average rating of “Hold” and an average price target of C$20.12.

First Quantum Minerals Stock Down 0.6 %

The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. The firm has a market capitalization of C$14.88 billion, a PE ratio of -6.95, a PEG ratio of -1.28 and a beta of 1.72. The company’s 50 day simple moving average is C$16.47 and its 200-day simple moving average is C$16.44.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.05) by C$0.02. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. The business had revenue of C$1.68 billion for the quarter, compared to analysts’ expectations of C$1.42 billion. On average, analysts forecast that First Quantum Minerals Ltd. will post 1.0143443 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. Corporate insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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.