First Quantum Minerals (TSE:FM) Stock Crosses Above 200 Day Moving Average - What's Next?

Shares of First Quantum Minerals Ltd. (TSE:FM - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.09 and traded as high as C$21.63. First Quantum Minerals shares last traded at C$21.27, with a volume of 1,657,009 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FM shares. BMO Capital Markets upgraded First Quantum Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. Raymond James boosted their price target on First Quantum Minerals from C$20.00 to C$21.00 in a research note on Friday, April 4th. Canaccord Genuity Group upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 16th. TD Securities increased their target price on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a "hold" rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price target on First Quantum Minerals from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, First Quantum Minerals currently has a consensus rating of "Moderate Buy" and an average price target of C$22.13.

First Quantum Minerals Stock Down 1.5%

The firm's 50-day simple moving average is C$18.88 and its two-hundred day simple moving average is C$19.09. The stock has a market cap of C$11.90 billion, a price-to-earnings ratio of -7.75, a PEG ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80.

Insiders Place Their Bets

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of the company's 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 Alison Cheryl Beckett acquired 1,388 shares of the business's stock in a transaction dated Monday, March 31st. The stock was acquired at an average cost of C$19.25 per share, for a total transaction of C$26,719.00. Company insiders own 19.35% of the company's stock.

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.