First Quantum Minerals (TSE:FM) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• First Quantum Minerals shares crossed above their 200-day moving average, reaching a high of C$26.10 during trading, last recorded at C$26.08.
• Analysts have mixed opinions, with some reducing target prices while others increased them, resulting in a consensus rating of "Moderate Buy" and an average target price of C$24.03.
• Corporate insider transactions showed Senior Officer Zenon Wozniak selling 8,135 shares, while Director Alison Cheryl Beckett bought 1,029 shares, indicating different levels of confidence among insiders.

Shares of First Quantum Minerals Ltd. (TSE:FM - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$21.09 and traded as high as C$26.10. First Quantum Minerals shares last traded at C$26.08, with a volume of 1,686,224 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FM. Royal Bank Of Canada upped their price objective on First Quantum Minerals from C$28.00 to C$30.00 in a research note on Wednesday, September 10th. Stifel Nicolaus boosted their target price on First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a report on Wednesday, August 6th. Scotiabank raised their price target on First Quantum Minerals from C$27.00 to C$28.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Desjardins lifted their price objective on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Finally, TD Securities decreased their price objective on shares of First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating on the stock in a report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, First Quantum Minerals has a consensus rating of "Moderate Buy" and an average target price of C$24.03.

First Quantum Minerals Stock Down 0.9%

The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The stock's 50-day simple moving average is C$23.85 and its 200 day simple moving average is C$21.30. The firm has a market cap of C$22.30 billion, a P/E ratio of 106.92, a PEG ratio of -1.28 and a beta of 1.29.

Insider Transactions at First Quantum Minerals

In related news, Director Alison Cheryl Beckett purchased 1,029 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was acquired at an average cost of C$24.59 per share, with a total value of C$25,307.84. Also, Senior Officer Zenon Wozniak sold 8,135 shares of First Quantum Minerals stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of C$22.82, for a total transaction of C$185,640.70. Corporate 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.