First Quantum Minerals (TSE:FM) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• First Quantum Minerals shares moved above their 200-day moving average, reaching C$38.09 before closing at C$37.51 on heavy volume. The 200-day average is C$37.75, while the 50-day average is C$39.88.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of C$44.96. Recent target prices range from C$44 to C$55, with several firms maintaining or upgrading buy-equivalent ratings.
• The company reported a quarterly loss of C$0.19 per share on C$2.16 billion in revenue, alongside negative net margins and return on equity. First Quantum operates copper, nickel and gold mines, while its Cobre Panamá and Ravensthorpe assets remain inactive or under care and maintenance.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$37.75 and traded as high as C$38.09. First Quantum Minerals shares last traded at C$37.51, with a volume of 3,741,622 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Scotia decreased their target price on First Quantum Minerals from C$47.00 to C$44.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 30th. BMO Capital Markets boosted their price target on First Quantum Minerals from C$40.00 to C$48.00 in a research note on Wednesday, April 22nd. Canaccord Genuity Group cut their price target 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. Stifel Nicolaus raised their price objective on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a "hold" rating to a "buy" rating and lifted their price objective for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$44.96.

First Quantum Minerals Price Performance

The company has a market capitalization of C$31.07 billion, a P/E ratio of -156.29, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The business's 50-day moving average is C$39.88 and its two-hundred day moving average is C$37.75. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. The firm had revenue of C$2.16 billion during the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%. As a group, analysts predict that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Insider Buying and Selling

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