First Quantum Minerals (OTCMKTS:FQVLF) Trading 20.1% Higher – Time to Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) was up 20.1% during trading on Wednesday . The stock traded as high as $31.47 and last traded at $31.47. 1,274 shares traded hands during trading, a decline of 100% from the average session volume of 356,306 shares. The stock had previously closed at $26.2090.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FQVLF shares. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, June 3rd. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Finally, Morgan Stanley raised shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42. The company has a market cap of $22.82 billion, a P/E ratio of -109.44 and a beta of 1.33. The firm’s fifty day moving average is $27.85 and its two-hundred day moving average is $27.14.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, analysts anticipate that First Quantum Minerals Ltd. will post 0.35 earnings per share for the current fiscal year.

About First Quantum Minerals

First Quantum Minerals Ltd. is a Canada-based mining company principally engaged in the exploration, development, production and marketing of copper and other mineral commodities. Headquartered in Vancouver, British Columbia, the company develops and operates large-scale open-pit and underground mines and associated processing facilities. Its activities span the full value chain from exploration and feasibility studies through to mining, milling and the sale of concentrates and refined metals to global customers.

Copper is the company’s primary product, produced alongside by-products such as gold, nickel, zinc and cobalt depending on the orebody.