First Quantum Minerals (TSE:FM) Shares Cross Above 200-Day Moving Average - Time to 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.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) shares 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.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Securities dropped their target price on shares of First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating on the stock in a research note on Friday, July 25th. Stifel Nicolaus boosted their target price on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Desjardins boosted their target price on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the company a "hold" rating in a research note on Wednesday, August 20th. Raymond James Financial boosted their price target on shares of First Quantum Minerals from C$23.00 to C$25.00 in a research report on Thursday, August 21st. Finally, Royal Bank Of Canada boosted their price target on shares of First Quantum Minerals from C$28.00 to C$30.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, First Quantum Minerals currently has a consensus rating of "Moderate Buy" and an average target price of C$24.03.

First Quantum Minerals Stock Up 3.0%

The stock's fifty day moving average is C$23.73 and its two-hundred day moving average is C$21.09. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The firm has a market cap of C$21.76 billion, a P/E ratio of 104.32, a price-to-earnings-growth ratio of -1.28 and a beta of 1.29.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 8,135 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of C$22.82, for a total transaction of C$185,640.70. Also, Director Alison Cheryl Beckett bought 1,029 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were purchased at an average cost of C$24.59 per share, for a total transaction of C$25,307.84. Corporate insiders own 19.35% of the company's stock.

First Quantum Minerals Company Profile

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.

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