First Quantum Minerals (OTCMKTS:FQVLF) Share Price Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• First Quantum Minerals shares rose above their 50-day moving average, reaching $31.5535 and last trading at $31.40, compared with a 50-day average of $28.51.
• Analysts remain broadly bullish: the stock has an average “Buy” rating, including two Strong Buy and seven Buy recommendations, while TD Securities recently upgraded it from Hold to Buy.
• The company’s latest quarterly results were mixed: revenue of $1.52 billion exceeded estimates, but adjusted EPS of $(0.13) missed consensus by $0.06; analysts expect full-year EPS of $0.27.

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $28.51 and traded as high as $31.5535. First Quantum Minerals shares last traded at $31.40, with a volume of 30,652 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley restated an "overweight" rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Scotiabank reissued an "outperform" rating on shares of First Quantum Minerals in a research note on Monday, June 15th. TD Securities upgraded First Quantum Minerals from a "hold" rating to a "buy" rating in a report on Tuesday, July 14th. Barclays reaffirmed an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Finally, Citigroup reaffirmed a "positive" rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of "Buy".

First Quantum Minerals Trading Up 1.1%

The company has a 50-day moving average price of $28.51 and a two-hundred day moving average price of $27.34. The stock has a market cap of $26.19 billion, a P/E ratio of -285.45 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last issued 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 the consensus estimate of $1.40 billion. On average, research analysts expect that First Quantum Minerals Ltd. will post 0.27 EPS for the current fiscal year.

First Quantum Minerals Company Profile

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.

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