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

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$23.30 and traded as high as C$30.50. First Quantum Minerals shares last traded at C$29.89, with a volume of 1,532,825 shares trading hands.

Analysts Set New Price Targets

FM has been the topic of several research reports. Desjardins lifted their price target on First Quantum Minerals from C$25.00 to C$26.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. Barclays boosted their target price on First Quantum Minerals from C$27.30 to C$38.00 in a report on Friday, October 10th. JPMorgan Chase & Co. raised First Quantum Minerals from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from C$20.00 to C$42.00 in a report on Friday, October 10th. Citigroup boosted their target price on First Quantum Minerals from C$26.00 to C$39.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on First Quantum Minerals from C$24.60 to C$31.20 in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$33.73.

First Quantum Minerals Stock Up 1.1%

The company has a 50 day moving average price of C$27.60 and a two-hundred day moving average price of C$23.30. 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 stock has a market cap of C$24.93 billion, a PE ratio of 119.56, a PEG ratio of -1.28 and a beta of 1.58.

Insider Buying and Selling at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 8,135 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of C$22.82, for a total value of C$185,640.70. 19.35% of the stock is owned by corporate insiders.

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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