First Quantum Minerals (TSE:FM) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• First Quantum Minerals shares have surpassed their 200-day moving average, trading at C$22.98 with a high of C$23.42, indicating positive momentum for the stock.
• A range of analysts have updated their price targets for First Quantum Minerals, with Stifel Nicolaus and Scotiabank raising their targets to C$26.00 and C$28.00 respectively, while TD Securities lowered theirs to C$24.00.
• Insider activity includes a sale of 8,135 shares by Senior Officer Zenon Wozniak and a purchase of 1,029 shares by Director Alison Cheryl Beckett, reflecting varied insider sentiment about the company's prospects.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$20.50 and traded as high as C$23.42. First Quantum Minerals shares last traded at C$22.98, with a volume of 972,051 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of First Quantum Minerals from C$25.80 to C$26.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. National Bankshares raised their target price on shares of First Quantum Minerals from C$28.50 to C$29.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada raised their target price on shares of First Quantum Minerals from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Stifel Nicolaus raised their target price 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 6th. Finally, TD Securities dropped 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 research note on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, First Quantum Minerals has a consensus rating of "Moderate Buy" and a consensus price target of C$23.65.

First Quantum Minerals Stock Up 0.5%

The stock has a market capitalization of C$13.38 billion, a price-to-earnings ratio of -8.71, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The business's 50-day moving average is C$23.35 and its two-hundred day moving average is C$20.62. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

Insider Activity

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