First Quantum Minerals (OTCMKTS:FQVLF) Hits New 1-Year High - What's Next?

Key Points

• First Quantum Minerals shares hit a new 52-week high, trading at $33.36 versus a previous close of $31.95, with 185,316 shares changing hands.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating, including recent upgrades from Deutsche Bank and TD Securities.
• The company beat quarterly revenue expectations with $1.52 billion but missed EPS estimates, reporting a loss of $0.13 per share versus the expected $0.07 loss.

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $33.36 and last traded at $33.36, with a volume of 185316 shares changing hands. The stock had previously closed at $31.95.

Analyst Ratings Changes

FQVLF has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, June 3rd. Barclays reissued an "overweight" rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Morgan Stanley restated an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of First Quantum Minerals in a report on Monday, June 15th. Finally, TD Securities raised First Quantum Minerals from a "hold" rating to a "buy" rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

First Quantum Minerals Stock Performance

The company has a current ratio of 1.42, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $27.83 billion, a PE ratio of -303.27 and a beta of 1.36. The firm's 50-day simple moving average is $28.75 and its two-hundred day simple moving average is $27.38.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). First Quantum Minerals had a negative return on equity of 2.28% and a negative net margin of 1.44%.The company had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.40 billion. As a group, research analysts anticipate that First Quantum Minerals Ltd. will post 0.29 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source