First Quantum Minerals (OTCMKTS:FQVLF) Reaches New 12-Month High – Time to Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $33.36 and last traded at $33.36, with a volume of 185316 shares. The stock had previously closed at $31.95.

Wall Street Analysts Forecast Growth

FQVLF has been the topic of a number of recent research reports. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Citigroup restated a “positive” rating on shares of First Quantum Minerals in a research note on Wednesday, July 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. Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Finally, TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

First Quantum Minerals Stock Up 4.4%

The business’s 50 day moving average is $28.75 and its 200-day moving average is $27.38. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of -303.27 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 released its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). First Quantum Minerals had a negative return on equity of 2.28% and a negative net margin of 1.44%.The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.40 billion. On average, sell-side analysts predict that First Quantum Minerals Ltd. will post 0.29 EPS 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.