First Quantum Minerals (OTCMKTS:FQVLF) Sets New 12-Month High - Here's What Happened

Key Points

• First Quantum Minerals' stock reached a new 52-week high at $22.70, with a recent trading volume of 294,924 shares.
• Analysts have issued an average rating of Moderate Buy for the stock, with two strong buy ratings, three buy ratings, and five hold ratings.
• The company reported quarterly earnings exceeding expectations, with $1.23 billion in revenue and earnings per share of $0.02.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $22.70 and last traded at $22.69, with a volume of 294924 shares traded. The stock had previously closed at $20.92.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of First Quantum Minerals in a research report on Friday, July 25th. National Bankshares reiterated an "outperform" rating on shares of First Quantum Minerals in a research report on Wednesday, August 13th. Scotiabank reiterated a "sector perform" rating on shares of First Quantum Minerals in a research report on Tuesday, July 8th. TD Securities reiterated a "hold" rating on shares of First Quantum Minerals in a research report on Monday. Finally, Barclays reiterated an "overweight" rating on shares of First Quantum Minerals in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy".

First Quantum Minerals Stock Up 8.5%

The company has a 50 day simple moving average of $17.92 and a two-hundred day simple moving average of $15.86. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $18.93 billion, a P/E ratio of 94.56 and a beta of 1.35.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The basic materials company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.05. First Quantum Minerals had a return on equity of 1.44% and a net margin of 4.08%.The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.06 billion. As a group, equities analysts predict that First Quantum Minerals Ltd. will post 0.03 EPS for the current year.

First Quantum Minerals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.