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

First Quantum Minerals Ltd. (TSE:FM) 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Desjardins raised shares of First Quantum Minerals to a “hold” rating in a report on Thursday, April 3rd. Morgan Stanley decreased their price objective on shares of First Quantum Minerals from C$19.70 to C$19.40 in a report on Wednesday, April 9th. Barclays increased their price objective on shares of First Quantum Minerals from C$21.40 to C$21.60 in a report on Wednesday, May 7th. National Bankshares decreased their price objective on shares of First Quantum Minerals from C$25.50 to C$24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 16th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$21.67.

First Quantum Minerals Trading Up 0.2%

The company’s 50 day moving average price is C$18.69 and its two-hundred day moving average price is C$18.78. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The stock has a market capitalization of C$11.47 billion, a PE ratio of -7.47, a P/E/G ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share 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 period in the prior year, the company earned ($0.37) EPS. As a group, analysts expect that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Insider Buying and Selling

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Charles Kevin Mcarthur bought 25,000 shares of First Quantum Minerals stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of C$17.23 per share, for a total transaction of C$430,842.13. 19.35% of the stock is owned by company 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.