These 2 TSX60 Stocks Are Above Their 20, 50, 100 & 200 Day SMAs

Disclosure: Author has no stakes in these two companies

We maintain a daily list of the TSX60 stocks that are above various SMA levels.

As a refresher, the SMA is the 'Simple Moving Average' of a stock - effectively what its trend is for a given time period. So a 200d SMA is the average price over the last 200 days, and if the current price is above this, it is a bullish signal for the stock as it is 'above trend'

Kinross Gold Corp (TSE:K) and First Quantum Minerals (TSE:FM) are two companies that are above both their short term and lon

Kinross Gold Corp (TSE:K) - Whats contributing to its rise?

Kinross has some natural economic tailwinds, and some company specific elements driving its current growth. A double benefit.

1. Kinross Gold’s share price is rising due to increasing gold prices, fueled by expectations of Fed rate cuts, geopolitical tensions, and strong central bank demand.

2. The company’s production output is solid, with major assets in stable regions, low production costs, and ongoing projects that ensure long-term growth.

3. Kinross benefits from reduced debt, a healthy balance sheet, and attractive valuation, which have drawn investor interest amid favorable market conditions.

Key Takeaway: Kinross Gold’s share price increase is driven by rising gold prices, efficient operations, and market confidence in its financial strength and growth prospects.

First Quantum (TSE:FM) - is the rally warranted?

The thing about the prices above the long term SMA's for First Quantum is that this is being distorted by the recent dip at the end of 2023. Heres the short take:

1. First Quantum Minerals revised its annual copper production guidance upward following a 13% production increase in Zambia, despite challenges like power restrictions and delayed government approvals in Panama.

2. Strong operational results in Q3 2024, including a 55% EBITDA increase, reflect improvements in cash costs and revenue growth, supported by increased copper and gold production.

3. However, the company faces rising debt due to capital expenditures and unresolved regulatory issues in Panama, creating headwinds for its share performance going into 2025.

Key Takeaway: While operational improvements and higher production have boosted First Quantum's outlook, lingering challenges in Panama and increasing debt may limit near-term share price growth.