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

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$38.39 and traded as high as C$48.83. First Quantum Minerals shares last traded at C$47.76, with a volume of 1,686,045 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a "hold" rating to a "buy" rating and upped their price target for the stock from C$40.00 to C$50.00 in a research report on Wednesday, June 3rd. Stifel Nicolaus raised their price objective on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. National Bank Financial lifted their target price on shares of First Quantum Minerals from C$47.00 to C$50.00 and gave the company an "outperform" rating in a research note on Tuesday, July 14th. Scotiabank lifted their target price on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the company a "sector outperform" rating in a research note on Monday, June 15th. Finally, Morgan Stanley dropped their target price on shares of First Quantum Minerals from C$46.30 to C$45.20 in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$44.68.

First Quantum Minerals Price Performance

The firm has a 50 day moving average of C$40.91 and a 200-day moving average of C$38.39. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 54.66. The company has a market cap of C$39.84 billion, a P/E ratio of -530.67, a P/E/G ratio of -1.28 and a beta of 1.38.

First Quantum Minerals (TSE:FM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C($0.19) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%.The business had revenue of C$2.16 billion during the quarter. On average, equities research analysts predict that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Insider Buying and Selling at First Quantum Minerals

In related news, Director Kathleen Applegate Hogenson bought 1,073 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of C$37.53 per share, with a total value of C$40,269.69. Following the completion of the purchase, the director owned 62,240 shares of the company's stock, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their position. Also, insider Gavin Ashley sold 20,000 shares of First Quantum Minerals stock in a transaction on Monday, June 15th. The shares were sold at an average price of C$46.00, for a total transaction of C$920,000.00. Following the completion of the sale, the insider owned 75,905 shares in the company, valued at approximately C$3,491,630. This represents a 20.85% decrease in their ownership of the stock. 19.35% of the stock is currently owned by insiders.

First Quantum Minerals Company Profile

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company's Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company's Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.

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