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

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped up before the market opened on Tuesday . The stock had previously closed at $25.2950, but opened at $27.46. First Quantum Minerals shares last traded at $27.3950, with a volume of 1,009 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FQVLF shares. TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, June 3rd. Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Scotiabank reissued an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Finally, Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

First Quantum Minerals Stock Down 0.8%

The stock has a market cap of $22.90 billion, a price-to-earnings ratio of -109.80 and a beta of 1.36. The business’s 50 day moving average is $28.11 and its 200-day moving average is $27.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings data 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). First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%.The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. On average, sell-side analysts predict that First Quantum Minerals Ltd. will post 0.36 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.