First Quantum Minerals (OTCMKTS:FQVLF) Stock Price Up 10.4% – Should You Buy?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shot up 10.4% during trading on Wednesday . The company traded as high as $27.93 and last traded at $27.93. 461 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 351,080 shares. The stock had previously closed at $25.2950.

Analyst Upgrades and Downgrades

FQVLF has been the topic of several recent research reports. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Citigroup reaffirmed a “positive” rating on shares of First Quantum Minerals in a research report on Wednesday. Finally, TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

First Quantum Minerals Trading Down 3.1%

The business’s 50-day moving average price is $28.16 and its 200 day moving average price is $27.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.86. The firm has a market capitalization of $22.19 billion, a price-to-earnings ratio of -106.40 and a beta of 1.36.

First Quantum Minerals (OTCMKTS:FQVLF) last released 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 firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. On average, equities analysts forecast that First Quantum Minerals Ltd. will post 0.36 earnings per share 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.