First Quantum Minerals (OTCMKTS:FQVLF) Reaches New 12-Month High – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price hit a new 52-week high on Friday . The stock traded as high as $27.44 and last traded at $26.00, with a volume of 3356 shares. The stock had previously closed at $26.70.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FQVLF. BMO Capital Markets reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Wednesday, October 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of First Quantum Minerals in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft downgraded First Quantum Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. Finally, Zacks Research downgraded First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Up 1.9%

The stock has a market cap of $22.69 billion, a P/E ratio of 544.11 and a beta of 1.40. The business’s 50 day simple moving average is $22.56 and its two-hundred day simple moving average is $19.82. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.45.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, analysts expect 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.