First Quantum Minerals (OTCMKTS:FQVLF) Sets New 12-Month High – Still a Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares hit a new 52-week high during trading on Monday . The stock traded as high as $31.8699 and last traded at $30.8540, with a volume of 8338 shares trading hands. The stock had previously closed at $29.79.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research downgraded First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Tuesday, December 16th. Finally, Stifel Nicolaus raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.94. The stock has a market cap of $25.62 billion, a P/E ratio of 614.32 and a beta of 1.33. The business’s 50-day moving average price is $25.44 and its 200-day moving average price is $21.48.

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