First Quantum Minerals (TSE:FM) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• First Quantum Minerals' stock has recently crossed above its 200-day moving average, indicating potential positive momentum, with the stock last trading at C$23.19.
• Several analysts have upgraded their ratings for First Quantum Minerals, with BMO Capital Markets labeling it as a "strong-buy", while others like TD Securities have adjusted their price objectives.
• Insider trading activity includes a purchase by Director Alison Cheryl Beckett of 1,029 shares at C$24.59 each, while Senior Officer Zenon Wozniak sold 8,135 shares at an average price of C$22.82.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.29 and traded as high as C$23.95. First Quantum Minerals shares last traded at C$23.19, with a volume of 1,383,127 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FM. BMO Capital Markets upgraded First Quantum Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. TD Securities decreased their price objective on 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. Raymond James Financial upgraded First Quantum Minerals to a "hold" rating in a report on Monday, June 30th. Stifel Nicolaus lifted their price objective 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. Finally, Royal Bank Of Canada lifted their price objective on First Quantum Minerals from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, First Quantum Minerals currently has an average rating of "Moderate Buy" and a consensus target price of C$22.99.

First Quantum Minerals Trading Down 2.4%

The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The company's fifty day moving average is C$22.94 and its 200-day moving average is C$20.29. The stock has a market cap of C$13.16 billion, a PE ratio of -8.57, a PEG ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett bought 1,029 shares of First Quantum Minerals stock in a transaction that occurred on Wednesday, July 2nd. The stock was purchased at an average price 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 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. Company 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.

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