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

Shares of First Quantum Minerals Ltd. (TSE:FM – Get Your Free Report ) broke above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.74 and traded as high as $18.80. Shares of First Quantum Minerals last traded at $18.54 with a volume of 2,181,947 shares.

Analysts on Wall Street are forecasting an increase

Several research firms have recently commented on FM. Cormark cut their price target on First Quantum Minerals from $25.00 to $23.50 and set a “buy” rating for the company in a research report on Thursday, July 25th. Morgan Stanley lifted their price target on First Quantum Minerals from $19.40 to $20.20 in a research report on Thursday, September 19th. Canaccord Genuity Group boosted their target price on shares of First Quantum Minerals from $22.00 to $25.00 in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and upped their price objective for the company from $19.00 to $26.00 in a note research on Wednesday, June 26. Finally, Jefferies Financial Group boosted their target price on shares of First Quantum Minerals from $19.50 to $23.00 in a research note on Monday, July 8th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.12, according to MarketBeat.com.

Read our latest report on the first quantum minerals

First Quantum Minerals Stock Performance

The company has a 50-day simple moving average of $16.61 and a 200-day simple moving average of $16.78. The company has a current ratio of 2.35, a quick ratio of 1.41, and a debt-to-equity ratio of 67.00. The stock has a market cap of $15.66 billion, a PE ratio of -7.30, a P/E/G ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM – Get Free Report ) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported C ($0.03) EPS for the quarter, topping analysts’ consensus estimates of C ($0.05) by $0.02. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.42 billion. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. Analysts forecast that First Quantum Minerals Ltd. will post 0.3652482 earnings per share for the current fiscal year.

Insider buying and selling

In related news, COO Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $18.53, for a total value of $117,165.19. In related news, COO 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 $18.53, for a total transaction of $117,165.19. Also, COO Ryan Leslie Macwilliam sold 16,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.54, for a total value of $264,640.00. 19.35% of shares are currently owned by insiders.

About First Quantum Minerals

(Get a free report)

First Quantum Minerals Ltd., together with its subsidiaries, is engaged in the exploration, development and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold and zinc ores, as well as producing acid. The company has operating mines in Zambia, Panama, Finland, Turkey, Spain, Australia and Mauritania, as well as a development project in Zambia.

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