First Quantum Minerals (TSE:FM) Share Price Passes Above 200-Day Moving Average – Should You Sell?

First Quantum Minerals Ltd. (TSE:FM)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analysts Set New Price Targets

Several research analysts have weighed in on FM shares. Morgan Stanley boosted their price target on First Quantum Minerals from C$19.40 to C$20.20 in a research report on Thursday, September 19th. Cormark dropped their price target on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada increased their price target on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Scotiabank boosted 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 research note on Tuesday, October 8th. Finally, National Bankshares raised their target price on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$20.72.

First Quantum Minerals Trading Up 3.0 %

The company’s fifty day moving average price is C$17.76 and its 200-day moving average price is C$17.48. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. The stock has a market cap of C$15.91 billion, a price-to-earnings ratio of -7.27, a P/E/G ratio of -1.28 and a beta of 1.73.

Insider Activity at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total transaction of C$117,165.19. Company insiders own 19.35% of the company’s stock.

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.