First Quantum Minerals (TSE:FM) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$18.89 and traded as high as C$21.14. First Quantum Minerals shares last traded at C$20.93, with a volume of 1,170,312 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FM shares. Morgan Stanley dropped their price target on First Quantum Minerals from C$19.70 to C$19.40 in a research report on Wednesday, April 9th. BMO Capital Markets raised First Quantum Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Raymond James increased their price target on First Quantum Minerals from C$20.00 to C$21.00 in a research report on Friday, April 4th. National Bankshares dropped their price objective on First Quantum Minerals from C$25.50 to C$24.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, TD Securities increased their price objective on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a "hold" rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, First Quantum Minerals presently has an average rating of "Moderate Buy" and an average price target of C$22.06.

First Quantum Minerals Trading Down 1.5%

The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The firm has a market cap of C$11.56 billion, a P/E ratio of -7.52, a P/E/G ratio of -1.28 and a beta of 1.73. The firm has a fifty day moving average of C$18.60 and a 200-day moving average of C$18.94.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Charles Kevin Mcarthur bought 25,000 shares of First Quantum Minerals stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of C$17.23 per share, for a total transaction of C$430,842.13. 19.35% of the stock is currently owned by insiders.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company's principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.