First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Time to Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped up prior to trading on Monday . The stock had previously closed at $26.92, but opened at $29.99. First Quantum Minerals shares last traded at $27.8791, with a volume of 810 shares changing hands.

Analysts Set New Price Targets

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

First Quantum Minerals Stock Performance

The stock has a market capitalization of $22.88 billion, a P/E ratio of -109.70 and a beta of 1.36. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $27.82 and a two-hundred day moving average price of $27.20.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data 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). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. Equities analysts expect that First Quantum Minerals Ltd. will post 0.36 earnings per share for the current year.

First Quantum Minerals Company Profile

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.