First Quantum Minerals (OTCMKTS:FQVLF) Sees Large Volume Increase – Should You Buy?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) saw unusually-high trading volume on Thursday . Approximately 699,678 shares traded hands during trading, an increase of 101% from the previous session’s volume of 348,174 shares.The stock last traded at $27.63 and had previously closed at $27.7407.

Analyst Ratings Changes

Several analysts have weighed in on FQVLF shares. Scotiabank raised shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Zacks Research downgraded First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Thursday. Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. Finally, Raymond James Financial reissued a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The stock has a 50-day simple moving average of $27.37 and a 200 day simple moving average of $22.50. The stock has a market capitalization of $22.41 billion, a P/E ratio of -671.50 and a beta of 1.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.94.

First Quantum Minerals (OTCMKTS:FQVLF) last released its earnings results on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). First Quantum Minerals had a positive return on equity of 0.07% and a negative net margin of 0.53%.The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.33 billion. On average, equities analysts forecast 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.