First Quantum Minerals (OTCMKTS:FQVLF) Trading 7.8% Higher - Here's What Happened

Key Points

• First Quantum Minerals saw its stock price increase by 7.8%, reaching a last traded price of $22.55, up from a previous close of $20.92.
• Wall Street analysts have mixed ratings on the stock, with the consensus being a "Moderate Buy" based on various recommendations including "overweight" and "outperform" ratings.
• For its latest quarter, the company reported $0.02 EPS, surpassing estimates and generating $1.23 billion in revenue, significantly above analyst expectations.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report)'s stock price traded up 7.8% on Monday . The stock traded as high as $22.64 and last traded at $22.55. 208,508 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 202,086 shares. The stock had previously closed at $20.92.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Securities reiterated a "hold" rating on shares of First Quantum Minerals in a research note on Monday. Barclays reiterated an "overweight" rating on shares of First Quantum Minerals in a research note on Monday, July 28th. Scotiabank reiterated a "sector perform" rating on shares of First Quantum Minerals in a research note on Tuesday, July 8th. National Bankshares reiterated an "outperform" rating on shares of First Quantum Minerals in a research note on Wednesday, August 13th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of First Quantum Minerals in a research note on Friday, July 25th. Two investment 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, First Quantum Minerals has a consensus rating of "Moderate Buy".

First Quantum Minerals Stock Up 7.9%

The firm has a market cap of $18.84 billion, a P/E ratio of 94.09 and a beta of 1.35. The stock's 50 day simple moving average is $17.81 and its 200 day simple moving average is $15.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.00.

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

About First Quantum Minerals

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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