Shares of First Quantum Minerals Ltd. (TSE:FM – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.40 and traded as high as C$17.95. First Quantum Minerals shares last traded at C$17.36, with a volume of 1,841,135 shares.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on FM. Stifel Nicolaus increased 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 research report on Thursday, May 30th. Cormark dropped their price objective on First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a report on Thursday, July 25th. Eight Capital boosted their target price on First Quantum Minerals from C$17.00 to C$22.00 in a report on Thursday, July 11th. CIBC raised their price target on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “neutral” rating in a research note on Thursday, June 20th. Finally, Raymond James lifted their price target on First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$20.12.
Read Our Latest Research Report on FM
First Quantum Minerals Trading Down 0.2 %
First Quantum Minerals (TSE:FM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.02. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. The firm had revenue of C$1.68 billion during the quarter, compared to the consensus estimate of C$1.42 billion. As a group, sell-side analysts forecast that First Quantum Minerals Ltd. will post 1.0143443 earnings per share for the current fiscal year.
Insider Activity at First Quantum Minerals
In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. Company insiders own 19.35% 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.
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