First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up - Should You Buy?

Key Points

• Shares gapped higher, opening at $35.00 versus a previous close of $33.36, but later traded at $32.98.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating, supported by multiple upgrades and “overweight,” “positive,” and “outperform” recommendations.
• First Quantum Minerals reported quarterly revenue of $1.52 billion, above expectations, but its adjusted loss of $0.13 per share missed estimates of a $0.07 loss; the company also posted negative net margin and return on equity.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $33.36, but opened at $35.00. First Quantum Minerals shares last traded at $32.98, with a volume of 5,938 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley restated an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Citigroup reaffirmed a "positive" rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. TD Securities upgraded First Quantum Minerals from a "hold" rating to a "buy" rating in a report on Tuesday, July 14th. 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. Finally, Scotiabank reaffirmed an "outperform" rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

First Quantum Minerals Price Performance

The company has a 50-day moving average price of $28.82 and a two-hundred day moving average price of $27.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.86. The company has a market cap of $28.50 billion, a PE ratio of -310.55 and a beta of 1.36.

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