First Quantum Minerals (TSE:FM) Share Price Passes Above 200-Day Moving Average - Here's Why

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$18.97 and traded as high as C$21.22. First Quantum Minerals shares last traded at C$20.77, with a volume of 2,365,033 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on First Quantum Minerals from C$24.00 to C$25.00 and gave the company an "outperform" rating in a report on Wednesday. National Bankshares dropped their price objective on First Quantum Minerals from C$25.50 to C$24.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. BMO Capital Markets raised First Quantum Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. Morgan Stanley decreased their target price on First Quantum Minerals from C$19.70 to C$19.40 in a research report on Wednesday, April 9th. Finally, Desjardins raised First Quantum Minerals to a "hold" rating in a research report on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$22.13.

First Quantum Minerals Trading Up 1.9%

The stock has a market capitalization of C$12.16 billion, a P/E ratio of -7.92, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. 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 company has a 50-day moving average price of C$18.61 and a 200 day moving average price of C$18.99.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett bought 1,388 shares of First Quantum Minerals stock in a transaction that occurred on Monday, March 31st. The shares were bought at an average cost of C$19.25 per share, with a total value of C$26,719.00. Also, Senior Officer Zenon Wozniak sold 40,000 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. 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.