First Quantum Minerals (OTCMKTS:FQVLF) Hits New 1-Year High – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.6735 and last traded at $25.6735, with a volume of 1645 shares changing hands. The stock had previously closed at $24.86.

Wall Street Analyst Weigh In

Several equities analysts have commented on FQVLF shares. BMO Capital Markets reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Scotiabank reaffirmed a “sector perform” rating on shares of First Quantum Minerals in a report on Tuesday, October 28th. Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a research note on Friday, October 10th. Zacks Research downgraded shares of First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $22.19 and its 200 day moving average price is $19.43. The company has a market capitalization of $21.33 billion, a P/E ratio of 511.40 and a beta of 1.40.

First Quantum Minerals (OTCMKTS:FQVLF) last released its earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). First Quantum Minerals had a return on equity of 0.29% and a net margin of 0.92%.The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, sell-side analysts forecast that First Quantum Minerals Ltd. will post 0.03 EPS for the current 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.