First Quantum Minerals (TSE:FM) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

First Quantum Minerals Ltd. (TSE:FM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$18.97 and traded as high as C$21.22. First Quantum Minerals shares last traded at C$20.77, with a volume of 2,365,033 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. National Bankshares reduced their price target on shares of First Quantum Minerals from C$25.50 to C$24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Barclays lifted their price target on shares of First Quantum Minerals from C$21.40 to C$21.60 in a research report on Wednesday, May 7th. Morgan Stanley reduced their price target on shares of First Quantum Minerals from C$19.70 to C$19.40 in a research report on Wednesday, April 9th. Stifel Canada upgraded shares of First Quantum Minerals to a “hold” rating in a report on Wednesday, March 19th. Finally, TD Securities raised their price objective on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a “hold” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$22.06.

First Quantum Minerals Stock Down 0.5%

The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The firm’s 50 day simple moving average is C$18.59 and its 200-day simple moving average is C$18.97. The stock has a market capitalization of C$11.79 billion, a price-to-earnings ratio of -7.68, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. Also, Director Alison Cheryl Beckett acquired 1,388 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was purchased at an average cost of C$19.25 per share, with a total value of C$26,719.00. Company insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.