First Quantum Minerals (OTCMKTS:FQVLF) Posts Earnings Results

First Quantum Minerals (OTCMKTS:FQVLF) released its quarterly earnings results on Wednesday. The basic materials company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.17 by $0.12, Zacks reports. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 2.29%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.86 billion.

First Quantum Minerals Stock Performance

Shares of OTCMKTS:FQVLF opened at $25.72 on Thursday. First Quantum Minerals has a 52 week low of $19.17 and a 52 week high of $35.48. The stock has a market capitalization of $21.46 billion, a P/E ratio of -233.82 and a beta of 1.40. The firm has a fifty day simple moving average of $29.91 and a two-hundred day simple moving average of $28.13. The company has a quick ratio of 1.03, a current ratio of 1.90 and a debt-to-equity ratio of 0.50.

Wall Street Analysts Forecast Growth

FQVLF has been the topic of several analyst reports. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Citigroup reissued a “positive” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Finally, Zacks Research downgraded shares of First Quantum Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. is a mining and metals company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, nickel and other mineral products as by-products of its operations. Its copper production supports industries such as electrical equipment, construction, transportation and renewable energy.

First Quantum’s principal operating assets include the Kansanshi copper-gold mine and the Sentinel copper mine in Zambia. The company has also operated the Cobre Panamá copper mine in Panama, although operations there were suspended following government action and a legal dispute in late 2023.