First Quantum Minerals (TSE:FM) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

First Quantum Minerals Ltd. (TSE:FM)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$34.99 and traded as high as C$36.37. First Quantum Minerals shares last traded at C$36.00, with a volume of 5,716,783 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group cut their price objective on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. BMO Capital Markets lifted their price objective on First Quantum Minerals from C$40.00 to C$48.00 in a report on Wednesday, April 22nd. Stifel Nicolaus lifted their price objective on First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. TD Securities lifted their price objective on First Quantum Minerals from C$41.00 to C$42.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from C$28.00 to C$37.00 in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$42.49.

First Quantum Minerals Price Performance

The stock has a market cap of C$29.81 billion, a P/E ratio of -150.00, a PEG ratio of -1.28 and a beta of 1.49. The company has a 50 day simple moving average of C$34.70 and a 200 day simple moving average of C$34.99. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67.

First Quantum Minerals (TSE:FM) last released its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. The firm had revenue of C$1.95 billion during the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. Sell-side analysts forecast that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current fiscal year.

About First Quantum Minerals

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.