First Quantum Minerals (OTCMKTS:FQVLF) Trading 9.3% Higher - Here's Why

Key Points

• Shares jumped 9.3% to $24.3950 on Wednesday, but volume was extremely light (≈1,717 shares versus a 345,111 average), suggesting the move may not be broadly supported.
• Analyst sentiment is mostly positive — the street shows 3 Strong Buy, 7 Buy and 5 Hold ratings with an average rating of "Moderate Buy" and a recent upgrade from UBS to Strong-Buy.
• Fundamentals are mixed: market cap is $20.91B with a negative trailing P/E (-626.5); the company missed EPS ($0.01 vs. $0.06 estimate) but beat revenue ($1.48B vs. $1.33B), and analysts expect ~ $0.03 EPS for the fiscal year.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) was up 9.3% on Wednesday . The company traded as high as $24.4225 and last traded at $24.3950. Approximately 1,717 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 345,111 shares. The stock had previously closed at $22.32.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Raymond James Financial restated a "market perform" rating on shares of First Quantum Minerals in a research report on Wednesday, January 14th. UBS Group upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 12th. TD Securities reissued a "hold" rating on shares of First Quantum Minerals in a research report on Thursday, February 12th. Morgan Stanley restated an "overweight" rating on shares of First Quantum Minerals in a research note on Tuesday, December 16th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of First Quantum Minerals in a report on Tuesday, February 24th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

First Quantum Minerals Stock Performance

The firm has a market cap of $20.91 billion, a price-to-earnings ratio of -626.50 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $26.48 and a 200-day moving average price of $24.48.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). First Quantum Minerals had a positive return on equity of 0.07% and a negative net margin of 0.53%.The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.33 billion. On average, analysts expect that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current fiscal year.

About First Quantum Minerals

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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