First Quantum Minerals (TSE:FM) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

First Quantum Minerals Ltd. (TSE:FM - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.94 and traded as high as C$29.63. First Quantum Minerals shares last traded at C$29.12, with a volume of 3,164,815 shares changing hands.Get First Quantum Minerals alerts:Wall Street Analysts Forecast GrowthSeveral research analysts have weighed in on FM shares. Desjardins boosted their price objective on First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Stifel Canada upgraded First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 21st. Citigroup increased their price target on shares of First Quantum Minerals from C$26.00 to C$39.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Barclays raised their price objective on shares of First Quantum Minerals from C$27.30 to C$38.00 in a report on Friday, October 10th. Finally, Scotiabank boosted their target price on shares of First Quantum Minerals from C$34.00 to C$35.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$33.80.Get Our Latest Report on FMFirst Quantum Minerals Price PerformanceThe firm has a 50 day moving average price of C$28.46 and a two-hundred day moving average price of C$23.94. The company has a market cap of C$24.29 billion, a P/E ratio of 116.48, a P/E/G ratio of -1.28 and a beta of 1.58. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. First Quantum Minerals Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than First Quantum Minerals3 Grocery Stocks That Can Help Take a Bite Out of Inflation Amazon Earnings: 3 Catalysts That Could Drive Shares to $300How to start investing in penny stocksWhy Chipotle Stock May Bounce After a Brutal Sell-OffThe Role Economic Reports Play in a Successful Investment StrategyWhy VGT May Be a Smarter Bet Than Chasing Individual Tech StocksThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in First Quantum Minerals Right Now?Before you consider First Quantum Minerals, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and First Quantum Minerals wasn't on the list.While First Quantum Minerals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here