First Quantum Minerals (TSE:FM) Stock Passes Above Two Hundred Day Moving Average of $14.26

First Quantum Minerals Ltd. (TSE:FM) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.26 and traded as high as C$16.86. First Quantum Minerals shares last traded at C$16.85, with a volume of 1,335,612 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on FM. National Bank Financial raised shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a research note on Thursday, February 29th. Stifel Nicolaus increased their target price on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Eight Capital increased their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$18.90 to C$19.80 in a research note on Wednesday, May 8th. Finally, Bank of America increased their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$18.66.

First Quantum Minerals Price Performance

The company has a quick ratio of 1.41, a current ratio of 2.68 and a debt-to-equity ratio of 52.05. The business’s 50-day moving average is C$17.32 and its two-hundred day moving average is C$14.28. The company has a market capitalization of C$14.24 billion, a P/E ratio of -7.39, a price-to-earnings-growth ratio of -1.28 and a beta of 1.96.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The firm had revenue of C$1.40 billion for the quarter, compared to the consensus estimate of C$1.25 billion. As a group, analysts predict that First Quantum Minerals Ltd. will post 1.0067358 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total transaction of C$885,022.50. 16.10% of the stock is currently owned by corporate insiders.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.