First Quantum Minerals (TSE:FM) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• First Quantum Minerals shares rose above their 200-day moving average, reaching C$42.67 and closing at C$42.30, compared with the C$38.95 average.
• Analyst sentiment is broadly positive: the stock carries a consensus “Moderate Buy” rating and an average price target of C$45.68, with several firms recently raising their targets.
• The company reported quarterly revenue of C$2.16 billion and a loss of C$0.19 per share, while an insider purchased 1,073 shares for approximately C$40,270.

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$38.95 and traded as high as C$42.67. First Quantum Minerals shares last traded at C$42.30, with a volume of 2,553,929 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on FM. TD Securities upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reduced their target price on First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. National Bank Financial upped their price target on First Quantum Minerals from C$47.00 to C$50.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 14th. Scotiabank raised their price objective on First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a "sector outperform" rating in a report on Monday, June 15th. Finally, Raymond James Financial boosted their target price on First Quantum Minerals from C$45.00 to C$47.00 and gave the stock a "market perform" rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals currently has a consensus rating of "Moderate Buy" and an average target price of C$45.68.

First Quantum Minerals Price Performance

The company's fifty day moving average is C$42.20 and its two-hundred day moving average is C$38.95. The company has a debt-to-equity ratio of 54.66, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a market cap of C$35.29 billion, a price-to-earnings ratio of -470.00, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43.

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

Insider Transactions at First Quantum Minerals

In other news, Director Kathleen Applegate Hogenson purchased 1,073 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of C$37.53 per share, with a total value of C$40,269.69. Following the purchase, the director directly owned 62,240 shares of the company's stock, valued at approximately C$2,335,867.20. This represents a 1.75% increase in their position. 19.35% of the stock is owned by company 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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