First Quantum Minerals Limited Stock Price Gaps Up Today; Buyers Are Thriving

 First Quantum Minerals Limited Stock Price Gaps Up Today; Buyers Are Thriving

The stock of First Quantum Minerals Limited (TSE:FM) gapped up by $0.07 today and has $17.62 target or 6.00% above today’s $16.62 share price. The 9 months technical chart setup indicates low risk for the $11.65 billion company. The gap was reported on Nov, 24 by Barchart.com. If the $17.62 price target is reached, the company will be worth $699.00M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 806,114 shares traded hands. First Quantum Minerals Limited (TSE:FM) has risen 79.87% since April 20, 2016 and is uptrending. It has outperformed by 74.46% the S&P500.

First Quantum Minerals Limited (TSE:FM) Ratings Coverage

Out of 15 analysts covering First Quantum Minerals (TSE:FM), 6 rate it a “Buy”, 5 “Sell”, while 4 “Hold”. This means 40% are positive. First Quantum Minerals has been the topic of 65 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Monday, October 31 by RBC Capital Markets. TD Securities maintained the stock with “Buy” rating in Friday, August 7 report. On Tuesday, January 19 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Dundee Securities downgraded it to “Neutral” rating and $13 target price in Friday, October 14 report. The stock of First Quantum Minerals Limited (TSE:FM) has “Outperform” rating given on Friday, December 18 by Scotia Capital. The firm has “Market Perform (Speculative)” rating given on Thursday, February 18 by BMO Capital Markets. Barclays Capital maintained the shares of FM in a report on Wednesday, October 7 with “Overweight” rating. HSBC downgraded the stock to “Reduce” rating in Tuesday, January 12 report. The rating was maintained by RBC Capital Markets on Friday, November 6 with “Sector Perform”. The rating was maintained by JP Morgan on Wednesday, October 7 with “Neutral”.

More important recent First Quantum Minerals Limited (TSE:FM) news were published by: Business.Financialpost.com which released: “First Quantum Minerals Ltd issues ‘going concern’ warning amid high debt, weak …” on February 19, 2016, also Business.Financialpost.com published article titled: “First Quantum Minerals Ltd upgraded to buy as liquidity improves”, Business.Financialpost.com published: “Teck Resources Ltd and First Quantum Minerals Ltd upgraded at Canaccord” on July 25, 2016. More interesting news about First Quantum Minerals Limited (TSE:FM) was released by: Business.Financialpost.com and their article: “First Quantum Minerals Ltd sells Kevitsa mine in Finland for US$712 million to …” with publication date: March 10, 2016.

First Quantum Minerals Ltd. is an international mining company. The company has a market cap of $11.65 billion. The Firm is engaged in mineral exploration, mine engineering and construction, development and mining. It has a 26.13 P/E ratio. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements and pyrite.

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