First Quantum Minerals (TSE:FM) Stock Crosses Above 200 Day Moving Average - Here's What Happened

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$17.46 and traded as high as C$18.47. First Quantum Minerals shares last traded at C$18.37, with a volume of 1,562,935 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FM shares. CIBC raised their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price objective on shares of First Quantum Minerals from C$20.00 to C$18.00 in a report on Friday, November 8th. Cormark decreased their price objective on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a "buy" rating for the company in a report on Thursday, July 25th. Scotiabank raised their price objective on shares of First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a "sector perform" rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada raised their price objective on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$20.72.

First Quantum Minerals Stock Performance

The firm's 50-day moving average price is C$17.76 and its two-hundred day moving average price is C$17.48. The firm has a market capitalization of C$15.44 billion, a PE ratio of -7.15, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. 19.35% of the stock is currently owned by insiders.

About First Quantum Minerals

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.