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

Shares of First Quantum Minerals Ltd. (TSE:FM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group cut their target price on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus raised their target price on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Morgan Stanley raised their target price on shares of First Quantum Minerals from C$18.90 to C$19.80 in a report on Wednesday, May 8th. Jefferies Financial Group lowered their price target on First Quantum Minerals from C$20.00 to C$19.50 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$17.78.

First Quantum Minerals Price Performance

The firm has a 50 day simple moving average of C$17.30 and a 200-day simple moving average of C$14.26. 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 company has a market cap of C$14.04 billion, a PE ratio of -7.29, a price-to-earnings-growth ratio of -1.28 and a beta of 1.96.

First Quantum Minerals (TSE:FM) last issued 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 return on equity of 12.97% and a negative net margin of 20.02%. The business had revenue of C$1.40 billion for the quarter, compared to analysts’ expectations of C$1.25 billion. As a group, research analysts predict that First Quantum Minerals Ltd. will post 1.0067358 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. Corporate insiders own 16.10% of the company’s stock.

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.