First Quantum Minerals Ltd. (OTCMKTS:FQVLF) Sees Significant Decrease in Short Interest

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 7,591,000 shares, a decrease of 13.8% from the April 30th total of 8,802,300 shares. Based on an average daily trading volume, of 208,800 shares, the short-interest ratio is presently 36.4 days. Currently, 0.9% of the shares of the company are sold short.

First Quantum Minerals Price Performance

Shares of FQVLF traded up $0.42 during mid-day trading on Thursday, reaching $15.78. 79,215 shares of the company's stock were exchanged, compared to its average volume of 198,376. The company has a quick ratio of 0.93, a current ratio of 2.08 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $13.36 and a two-hundred day simple moving average of $13.40. First Quantum Minerals has a 52-week low of $10.18 and a 52-week high of $16.23. The company has a market cap of $13.16 billion, a price-to-earnings ratio of -789.00 and a beta of 1.33.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. First Quantum Minerals had a net margin of 0.04% and a negative return on equity of 0.15%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.04 billion. On average, sell-side analysts predict that First Quantum Minerals will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

FQVLF has been the subject of a number of recent analyst reports. National Bankshares restated an "outperform" rating on shares of First Quantum Minerals in a research report on Wednesday, April 2nd. Scotiabank reiterated a "sector perform" rating on shares of First Quantum Minerals in a research report on Friday, April 25th. Desjardins initiated coverage on shares of First Quantum Minerals in a research report on Friday, April 4th. They set a "hold" rating for the company. BMO Capital Markets upgraded shares of First Quantum Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, Barclays reiterated an "overweight" rating on shares of First Quantum Minerals in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy".

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.