First Quantum Minerals (TSE:FM) Shares Pass Above 200-Day Moving Average of $16.00

First Quantum Minerals Ltd. (TSE:FM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$16.00 and traded as high as C$17.74. First Quantum Minerals shares last traded at C$17.63, with a volume of 991,228 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup raised shares of First Quantum Minerals from a "neutral" rating to a "buy" rating and increased their price objective for the stock from C$14.00 to C$26.00 in a research report on Thursday, June 20th. Eight Capital increased their price objective on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research report on Thursday, July 11th. JPMorgan Chase & Co. decreased their price target on shares of First Quantum Minerals from C$20.00 to C$16.00 in a research report on Friday, July 19th. Morgan Stanley cut shares of First Quantum Minerals from an "overweight" rating to an "equal weight" rating in a research report on Monday, July 8th. Finally, Jefferies Financial Group raised their price target on shares of First Quantum Minerals from C$19.50 to C$23.00 in a research report on Monday, July 8th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$19.91.

First Quantum Minerals Price Performance

The company's 50 day moving average is C$17.12 and its 200 day moving average is C$16.03. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 54.64. The stock has a market capitalization of C$14.33 billion, a price-to-earnings ratio of -6.66, a price-to-earnings-growth ratio of -1.28 and a beta of 1.75.

First Quantum Minerals (TSE:FM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.05) by C$0.02. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. The firm had revenue of C$1.68 billion for the quarter, compared to analyst estimates of C$1.42 billion. Research analysts anticipate that First Quantum Minerals Ltd. will post 0.8611399 EPS for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total value of C$264,640.00. In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals stock in a transaction dated Monday, July 29th. The shares were sold at an average price of C$16.54, for a total value of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total transaction of C$885,022.50. 19.35% of the stock is currently owned by company insiders.

First Quantum Minerals Company Profile

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.