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

Key Points

• First Quantum Minerals shares have recently crossed above their 200-day moving average, reaching a price of C$25.06, which is noteworthy given the average is C$20.82.
• Analysts have mixed opinions on the stock's future; while some raise their targets, others have decreased them, leading to an overall rating of "Moderate Buy" with a consensus target price of C$23.65.
• The company has a diverse portfolio, producing key metals such as copper, nickel, gold, zinc, and silver, with a current market capitalization of C$20.91 billion.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$20.82 and traded as high as C$25.24. First Quantum Minerals shares last traded at C$25.06, with a volume of 2,484,598 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FM. Royal Bank Of Canada lifted their price target on First Quantum Minerals from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Barclays upped their target price on shares of First Quantum Minerals from C$25.80 to C$26.00 and gave the company a "buy" rating in a research note on Monday, July 28th. TD Securities lowered their price objective on shares of First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating for the company in a research report on Friday, July 25th. Scotiabank increased their price target on First Quantum Minerals from C$27.00 to C$28.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus lifted their price target on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$23.65.

First Quantum Minerals Price Performance

The firm has a market capitalization of C$20.58 billion, a price-to-earnings ratio of 98.68, a price-to-earnings-growth ratio of -1.28 and a beta of 1.29. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The company has a 50-day moving average of C$23.67 and a 200-day moving average of C$20.92.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett purchased 1,029 shares of First Quantum Minerals stock in a transaction that occurred on Wednesday, July 2nd. The stock was acquired 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 that occurred 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. 19.35% of the stock is owned by insiders.

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.