First Quantum Minerals (TSE:FM) Share Price Crosses Above 200 Day Moving Average – Here’s Why

First Quantum Minerals Ltd. (TSE:FM) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$36.48 and traded as high as C$40.56. First Quantum Minerals shares last traded at C$39.72, with a volume of 2,509,407 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Scotiabank raised their price target on First Quantum Minerals from C$44.00 to C$48.00 in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their target price for the company from C$40.00 to C$50.00 in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. upgraded First Quantum Minerals from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from C$28.00 to C$37.00 in a research note on Friday, April 24th. Morgan Stanley upgraded First Quantum Minerals from an “equal” rating to an “overweight” rating and upped their target price for the company from C$37.70 to C$42.20 in a research report on Tuesday, May 19th. Finally, Stifel Nicolaus boosted their price target on First Quantum Minerals from C$47.00 to C$52.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$43.86.

First Quantum Minerals Trading Down 2.1%

The company has a market capitalization of C$32.90 billion, a PE ratio of -165.50, a PEG ratio of -1.28 and a beta of 1.36. The company has a current ratio of 1.76, a quick ratio of 1.41 and a debt-to-equity ratio of 54.67. The company has a fifty day simple moving average of C$37.50 and a 200-day simple moving average of C$36.48.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Wednesday, April 29th. The company reported C($0.25) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The business had revenue of C$1.95 billion for the quarter. Analysts predict that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

First Quantum Minerals Company Profile

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.