First Quantum Minerals (TSE:FM) Shares Pass Above 200-Day Moving Average of $14.20

First Quantum Minerals Ltd. (TSE:FM)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.20 and traded as high as C$19.09. First Quantum Minerals shares last traded at C$18.37, with a volume of 3,221,941 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. National Bankshares upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$15.00 to C$16.50 in a report on Friday, March 1st. Royal Bank of Canada raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$17.00 to C$18.00 in a research report on Monday, March 4th. BMO Capital Markets cut their target price on shares of First Quantum Minerals from C$17.50 to C$17.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Morgan Stanley lifted their price objective on shares of First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Barclays lifted their price objective on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$16.96.

First Quantum Minerals Price Performance

The company has a debt-to-equity ratio of 52.05, a current ratio of 2.68 and a quick ratio of 1.41. The stock’s fifty day moving average is C$14.97 and its 200-day moving average is C$14.20. The stock has a market cap of C$15.31 billion, a PE ratio of -7.88, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The firm had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. As a group, equities analysts anticipate that First Quantum Minerals Ltd. will post 0.9626943 EPS for the current year.

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.