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

First Quantum Minerals Ltd. (TSE:FM) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$38.95 and traded as high as C$42.67. First Quantum Minerals shares last traded at C$42.30, with a volume of 2,553,929 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FM shares. Raymond James Financial increased their price objective on First Quantum Minerals from C$45.00 to C$47.00 and gave the company a “market perform” rating in a research note on Friday, September 4th. Barclays upped their target price on shares of First Quantum Minerals from C$42.00 to C$46.00 in a report on Thursday, July 16th. Morgan Stanley reduced their target price on shares of First Quantum Minerals from C$46.30 to C$45.20 in a research report on Wednesday, July 8th. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada upped their price objective on shares of First Quantum Minerals from C$45.00 to C$52.00 in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$46.34.

First Quantum Minerals Price Performance

The stock has a market cap of C$35.26 billion, a PE ratio of -469.67, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The stock’s fifty day moving average is C$42.31 and its 200-day moving average is C$38.96. The company has a debt-to-equity ratio of 54.66, a current ratio of 1.90 and a quick ratio of 1.41.

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

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Director Kathleen Applegate Hogenson acquired 1,073 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of C$37.53 per share, for a total transaction of C$40,269.69. Following the completion of the acquisition, the director owned 62,240 shares of the company’s stock, valued at approximately C$2,335,867.20. The trade was a 1.75% increase in their position. 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.