First Quantum Minerals (TSE:FM) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• First Quantum Minerals shares rose above their 200-day moving average, reaching C$44.80 and closing at C$44.23, compared with a 200-day average of C$37.92.
• Analysts hold a broadly positive view, with a consensus “Moderate Buy” rating and a C$44.68 target price. Recent targets range from C$37.00 to C$55.00.
• The company reported a quarterly loss of C$0.19 per share on C$2.16 billion in revenue, while profitability remained weak with a negative net margin and return on equity. Insider activity was mixed: one insider sold shares, while a director made a smaller purchase.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$37.92 and traded as high as C$44.80. First Quantum Minerals shares last traded at C$44.23, with a volume of 2,539,264 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of First Quantum Minerals from C$48.00 to C$46.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised First Quantum Minerals from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from C$28.00 to C$37.00 in a report on Friday, April 24th. Scotia decreased their target price on shares of First Quantum Minerals from C$47.00 to C$44.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 30th. Stifel Nicolaus upped their price target on First Quantum Minerals from C$52.00 to C$55.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley dropped their price objective on shares of First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$44.68.

First Quantum Minerals Trading Up 1.8%

The company has a debt-to-equity ratio of 54.66, a quick ratio of 1.41 and a current ratio of 1.90. The company has a market capitalization of C$36.90 billion, a price-to-earnings ratio of -491.44, a P/E/G ratio of -1.28 and a beta of 1.38. The business's 50-day simple moving average is C$40.37 and its 200-day simple moving average is C$37.92.

First Quantum Minerals (TSE:FM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C($0.19) EPS for the quarter. The business had revenue of C$2.16 billion for the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%. On average, research analysts expect that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Quantum Minerals news, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals stock in a transaction on Monday, June 15th. The shares were sold at an average price of C$46.00, for a total transaction of C$920,000.00. Following the completion of the sale, the insider owned 75,905 shares of the company's stock, valued at approximately C$3,491,630. The trade was a 20.85% decrease in their position. Also, Director Kathleen Applegate Hogenson bought 1,073 shares of the stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the acquisition, the director directly owned 62,240 shares in the company, valued at approximately C$2,335,867.20. This trade represents a 1.75% increase in their position. 19.35% of the stock is currently owned by company insiders.

First Quantum Minerals Company Profile

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.

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