First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Should You Buy?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped up prior to trading on Tuesday . The stock had previously closed at $25.2950, but opened at $27.46. First Quantum Minerals shares last traded at $27.3950, with a volume of 1,009 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FQVLF shares. Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 8th. Scotiabank reaffirmed an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, June 3rd. TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Barclays reissued an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy”.

First Quantum Minerals Stock Performance

The company’s 50-day moving average price is $27.96 and its 200 day moving average price is $27.25. The stock has a market capitalization of $22.77 billion, a PE ratio of -109.20 and a beta of 1.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. On average, equities research analysts expect that First Quantum Minerals Ltd. will post 0.36 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.