First Quantum Minerals (OTCMKTS:FQVLF) Hits New 12-Month High – Should You Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares reached a new 52-week high during trading on Thursday . The company traded as high as $20.00 and last traded at $19.30, with a volume of 236149 shares. The stock had previously closed at $19.62.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FQVLF. Raymond James Financial upgraded First Quantum Minerals to a “hold” rating in a research report on Monday, June 30th. TD Securities reiterated a “hold” rating on shares of First Quantum Minerals in a research report on Friday, July 25th. National Bankshares reaffirmed an “outperform” rating on shares of First Quantum Minerals in a research note on Wednesday, August 13th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of First Quantum Minerals in a research note on Friday, July 25th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of First Quantum Minerals in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Up 3.0%

The company has a market cap of $16.36 billion, a PE ratio of 81.71 and a beta of 1.35. The business has a 50 day simple moving average of $17.46 and a two-hundred day simple moving average of $15.48. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Wednesday, July 23rd. The basic materials company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. First Quantum Minerals had a return on equity of 1.44% and a net margin of 4.08%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.06 billion. On average, analysts forecast that First Quantum Minerals Ltd. will post 0.03 EPS for the current fiscal year.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.