First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up - Here's Why

Key Points

• The stock price of First Quantum Minerals gapped up from $22.67 to $23.52 before the market opened on Friday.
• Analyst ratings show a consensus of Moderate Buy for the company, with three analysts giving a Strong Buy rating and five issuing a Hold rating.
• For the latest quarter, First Quantum reported earnings of $0.02 per share, beating the expected loss, with a revenue of $1.23 billion surpassing analyst estimates of $1.06 billion.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $22.67, but opened at $23.52. First Quantum Minerals shares last traded at $22.54, with a volume of 5,481 shares traded.

Analyst Ratings Changes

FQVLF has been the topic of a number of research analyst reports. Barclays restated an "overweight" rating on shares of First Quantum Minerals in a report on Monday, July 28th. Zacks Research upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. TD Securities restated a "hold" rating on shares of First Quantum Minerals in a report on Monday, September 29th. Royal Bank Of Canada restated an "outperform" rating on shares of First Quantum Minerals in a report on Friday, July 25th. Finally, Raymond James Financial restated a "market perform" rating on shares of First Quantum Minerals in a report on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of "Moderate Buy".

First Quantum Minerals Stock Down 3.1%

The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The firm's 50 day simple moving average is $19.45 and its 200-day simple moving average is $16.56. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 91.50 and a beta of 1.36.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. First Quantum Minerals had a net margin of 4.08% and a return on equity of 1.44%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.06 billion. Equities analysts expect that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current fiscal 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.

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