First Quantum Minerals (OTCMKTS:FQVLF) Sets New 12-Month High – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares reached a new 52-week high on Friday . The stock traded as high as $27.44 and last traded at $26.00, with a volume of 3356 shares trading hands. The stock had previously closed at $26.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of First Quantum Minerals in a research report on Wednesday, October 29th. Scotiabank reaffirmed a “sector perform” rating on shares of First Quantum Minerals in a research note on Tuesday, October 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft lowered First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 26th. Finally, TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Down 2.6%

The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $21.69 billion, a P/E ratio of 520.10 and a beta of 1.40. The company has a 50 day simple moving average of $22.46 and a two-hundred day simple moving average of $19.71.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.47 billion. First Quantum Minerals had a net margin of 0.92% and a return on equity of 0.29%. On average, equities analysts predict that First Quantum Minerals Ltd. will post 0.03 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.