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

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$39.91 and traded as low as C$37.58. First Quantum Minerals shares last traded at C$37.88, with a volume of 2,652,410 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FM. Canadian Imperial Bank of Commerce lowered their price target on shares of First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. Royal Bank Of Canada upped their price objective on shares of First Quantum Minerals from C$45.00 to C$52.00 in a research note on Wednesday, September 16th. TD Securities upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Raymond James Financial lifted their target price on shares of First Quantum Minerals from C$45.00 to C$47.00 and gave the stock a "market perform" rating in a research note on Friday, September 4th. Finally, Scotiabank boosted 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 report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$46.78.

First Quantum Minerals Price Performance

The stock has a market capitalization of C$31.60 billion, a P/E ratio of -420.89, a price-to-earnings-growth ratio of -1.28 and a beta of 1.47. The business's 50 day simple moving average is C$43.71 and its two-hundred day simple moving average is C$39.91. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 54.66.

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

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, insider Robert Richard Cayton Stone sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$46.63, for a total transaction of C$932,600.00. Following the completion of the sale, the insider directly owned 69,196 shares of the company's stock, valued at approximately C$3,226,609.48. The trade was a 22.42% decrease in their position. Company insiders own 19.35% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.