First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Here’s What Happened

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped up prior to trading on Friday . The stock had previously closed at $25.88, but opened at $27.36. First Quantum Minerals shares last traded at $26.3948, with a volume of 3,212 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. TD Securities reiterated a “hold” rating on shares of First Quantum Minerals in a research report on Thursday, February 12th. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Morgan Stanley upgraded shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of First Quantum Minerals in a research report on Wednesday, April 15th. Finally, Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Up 1.0%

The stock has a market capitalization of $22.23 billion, a price-to-earnings ratio of -106.60 and a beta of 1.26. The business’s 50-day moving average is $25.27 and its two-hundred day moving average is $25.60. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%. Equities analysts anticipate that First Quantum Minerals Ltd. will post 0.49 EPS for the current 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.