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

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$19.22 and traded as high as C$21.96. First Quantum Minerals shares last traded at C$21.84, with a volume of 2,433,106 shares changing hands.

Analyst Upgrades and Downgrades

FM has been the subject of several recent research reports. Raymond James Financial increased their price objective on First Quantum Minerals from C$20.00 to C$21.00 in a report on Friday, April 4th. Scotiabank upped their target price on First Quantum Minerals from C$22.50 to C$24.00 in a research report on Monday, June 16th. Royal Bank Of Canada lifted their price target on First Quantum Minerals from C$24.00 to C$25.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Canaccord Genuity Group upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 16th. Finally, Desjardins raised First Quantum Minerals to a "hold" rating in a research report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$21.75.

First Quantum Minerals Price Performance

The company has a market cap of C$13.58 billion, a P/E ratio of -8.84, a P/E/G ratio of -1.28 and a beta of 1.73. The stock has a 50-day simple moving average of C$20.13 and a 200 day simple moving average of C$19.28. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80.

Insiders Place Their Bets

In other news, Director Alison Cheryl Beckett acquired 1,388 shares of the company's stock in a transaction dated Monday, March 31st. The stock was bought at an average price of C$19.25 per share, with a total value of C$26,719.00. 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.