First Quantum Minerals (TSE:FM) Shares Pass Above 200 Day Moving Average of $10.91

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First Quantum Minerals Limited (TSE:FM) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.91 and traded as high as $12.25. First Quantum Minerals shares last traded at $12.15, with a volume of 1,345,504 shares.

A number of equities research analysts have recently commented on FM shares. Macquarie reiterated a “neutral” rating and set a C$11.20 target price on shares of First Quantum Minerals in a research note on Tuesday, September 24th. Barclays increased their price objective on First Quantum Minerals from C$14.00 to C$17.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on First Quantum Minerals from C$10.00 to C$11.00 in a research note on Wednesday, October 2nd. National Bank Financial increased their price objective on First Quantum Minerals from C$12.00 to C$12.75 and gave the company a “sector perform” rating in a research note on Monday, November 18th. Finally, Citigroup dropped their price objective on First Quantum Minerals from C$13.00 to C$11.00 in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of C$14.06.

The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 90.14. The company has a market cap of $8.78 billion and a P/E ratio of 34.43. The business has a fifty day moving average of C$11.81 and a 200 day moving average of C$10.91.

About First Quantum Minerals (TSE:FM)

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

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