First Quantum Minerals (TSE:FM) Stock Crosses Above 200-Day Moving Average – Should You Sell?

First Quantum Minerals Ltd. (TSE:FM)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$37.75 and traded as high as C$38.09. First Quantum Minerals shares last traded at C$37.51, with a volume of 3,741,622 shares traded.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays upped their price target on shares of First Quantum Minerals from C$42.00 to C$46.00 in a research note on Thursday, July 16th. Scotiabank boosted their target price on shares of First Quantum Minerals from C$48.00 to C$55.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Canadian Imperial Bank of Commerce reduced their price target on First Quantum Minerals from C$44.00 to C$41.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. Finally, BMO Capital Markets raised their target price on First Quantum Minerals from C$40.00 to C$48.00 in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$44.68.

First Quantum Minerals Price Performance

The stock has a market capitalization of C$32.27 billion, a PE ratio of -162.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. The business’s 50-day moving average price is C$39.93 and its 200 day moving average price is C$37.75. The company has a debt-to-equity ratio of 54.67, a quick ratio of 1.41 and a current ratio of 1.76.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$2.16 billion for the quarter. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.78%. Research analysts forecast that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Insider Transactions at First Quantum Minerals

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

About First Quantum Minerals

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.