First Quantum Minerals (OTCMKTS:FQVLF) Posts Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• First Quantum Minerals reported quarterly EPS of $0.29, beating analyst expectations of $0.17 by $0.12. However, the company posted a negative 2.29% return on equity and a negative 1.44% net margin.
• Shares rose 0.1% to $25.72, below their 50-day and 200-day moving averages. The stock has traded between $19.17 and $35.48 over the past year.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating, although Zacks Research downgraded the shares to “Strong Sell.” First Quantum primarily operates copper mines in Zambia, while its Cobre Panamá mine remains suspended.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) released its quarterly earnings results on Wednesday. The basic materials company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.12, Zacks reports. First Quantum Minerals had a negative return on equity of 2.29% and a negative net margin of 1.44%.

First Quantum Minerals Trading Up 0.1%

Shares of OTCMKTS:FQVLF traded up $0.03 on Wednesday, hitting $25.72. The company had a trading volume of 221,294 shares, compared to its average volume of 279,685. The firm's 50-day simple moving average is $30.02 and its two-hundred day simple moving average is $28.14. First Quantum Minerals has a 1 year low of $19.17 and a 1 year high of $35.48. The company has a quick ratio of 1.03, a current ratio of 1.90 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of -233.82 and a beta of 1.40.

Wall Street Analysts Forecast Growth

FQVLF has been the subject of a number of research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Barclays reaffirmed an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Zacks Research downgraded First Quantum Minerals from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 6th. Citigroup restated a "positive" rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Finally, TD Securities upgraded First Quantum Minerals from a "hold" rating to a "buy" rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.

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