First Quantum Minerals (OTCMKTS:FQVLF) Sees Strong Trading Volume – Here’s What Happened

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) saw unusually-high trading volume on Thursday . Approximately 652,478 shares changed hands during mid-day trading, an increase of 83% from the previous session’s volume of 356,043 shares.The stock last traded at $26.06 and had previously closed at $26.78.

Analysts Set New Price Targets

FQVLF has been the topic of several recent analyst reports. Zacks Research downgraded First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Scotiabank upgraded shares of First Quantum Minerals from a “hold” rating to an “outperform” rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft lowered shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 26th. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a research note on Thursday, February 12th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The stock has a market cap of $21.83 billion, a price-to-earnings ratio of -654.25 and a beta of 1.32. The company’s 50-day simple moving average is $27.66 and its 200-day simple moving average is $22.84. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.45.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.33 billion. First Quantum Minerals had a positive return on equity of 0.07% and a negative net margin of 0.53%. Analysts predict that First Quantum Minerals Ltd. will post 0.03 EPS for the current fiscal 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.