First Quantum Minerals (TSE:FM) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of First Quantum Minerals Ltd. (TSE:FM) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$38.39 and traded as high as C$48.83. First Quantum Minerals shares last traded at C$47.76, with a volume of 1,686,045 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on FM. Scotiabank lifted their price objective on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 15th. Stifel Nicolaus upped their price target on shares of First Quantum Minerals from C$52.00 to C$55.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce reduced their price objective on First Quantum Minerals from C$44.00 to C$41.00 in a report on Thursday, July 30th. Finally, National Bank Financial increased their target price on First Quantum Minerals from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$44.68.

First Quantum Minerals Stock Down 1.3%

The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 54.66. The firm has a market cap of C$39.84 billion, a price-to-earnings ratio of -530.67, a PEG ratio of -1.28 and a beta of 1.38. The firm’s 50 day simple moving average is C$40.91 and its two-hundred day simple moving average is C$38.39.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, July 28th. The company reported C($0.19) EPS for the quarter. The business had revenue of C$2.16 billion for the quarter. First Quantum Minerals had a negative return on equity of 0.73% and a negative net margin of 1.44%. On average, equities analysts forecast that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Insider Buying and Selling at First Quantum Minerals

In other news, insider Gavin Ashley sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of C$46.00, for a total value of C$920,000.00. Following the completion of the transaction, the insider directly owned 75,905 shares in the company, valued at approximately C$3,491,630. The trade was a 20.85% decrease in their position. Also, Director Kathleen Applegate Hogenson purchased 1,073 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of C$37.53 per share, for a total transaction of C$40,269.69. Following the transaction, the director directly owned 62,240 shares in the company, valued at C$2,335,867.20. This represents a 1.75% increase in their position. Corporate insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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.