First Quantum Minerals (TSE:FM) Shares Pass Above 200-Day Moving Average – What’s Next?

First Quantum Minerals Ltd. (TSE:FM)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.94 and traded as high as C$29.63. First Quantum Minerals shares last traded at C$29.12, with a volume of 3,164,815 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Scotiabank raised their price target on First Quantum Minerals from C$34.00 to C$35.00 in a report on Tuesday. Stifel Nicolaus upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and raised their target price for the stock from C$26.00 to C$38.00 in a research note on Tuesday, October 21st. Stifel Canada raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Royal Bank Of Canada upped their price target on First Quantum Minerals from C$28.00 to C$30.00 in a research report on Wednesday, September 10th. Finally, Citigroup raised their price objective on shares of First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$33.80.

First Quantum Minerals Stock Performance

The firm has a market capitalization of C$24.29 billion, a PE ratio of 116.48, a PEG ratio of -1.28 and a beta of 1.58. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The company has a 50-day moving average of C$28.46 and a 200 day moving average of C$23.94.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.