First Quantum Minerals (TSE:FM) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$18.78 and traded as high as C$20.81. First Quantum Minerals shares last traded at C$20.21, with a volume of 2,113,198 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FM shares. Scotiabank lowered their price objective on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a "sector perform" rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on shares of First Quantum Minerals from C$18.00 to C$17.00 in a research report on Thursday, January 30th. Desjardins raised shares of First Quantum Minerals to a "hold" rating in a research report on Thursday, April 3rd. Canaccord Genuity Group raised shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 16th. Finally, TD Securities boosted their price objective on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the company a "hold" rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, First Quantum Minerals has a consensus rating of "Moderate Buy" and a consensus price target of C$21.67.

First Quantum Minerals Price Performance

The firm's 50-day moving average price is C$18.69 and its two-hundred day moving average price is C$18.78. The stock has a market cap of C$11.47 billion, a PE ratio of -7.47, a PEG 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.

First Quantum Minerals (TSE:FM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter last year, the firm posted ($0.37) earnings per share. On average, equities analysts expect that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Kevin Mcarthur purchased 25,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of C$17.23 per share, for a total transaction of C$430,842.13. Also, Senior Officer Zenon Wozniak sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total transaction of C$844,400.00. 19.35% of the stock is currently owned by company 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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