First Quantum Minerals (OTCMKTS:FQVLF) Reaches New 52-Week High – Still a Buy?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) reached a new 52-week high on Friday . The stock traded as high as $25.6735 and last traded at $25.6735, with a volume of 1645 shares traded. The stock had previously closed at $24.86.

Analysts Set New Price Targets

FQVLF has been the subject of a number of recent research reports. Stifel Canada raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. BMO Capital Markets reissued an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Monday, September 29th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals has a consensus rating of “Moderate Buy”.

First Quantum Minerals Trading Up 2.1%

The firm’s fifty day simple moving average is $22.13 and its 200 day simple moving average is $19.32. The stock has a market capitalization of $21.18 billion, a P/E ratio of 507.90 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.94.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly 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). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.47 billion. First Quantum Minerals had a return on equity of 0.29% and a net margin of 0.92%. As a group, equities research analysts forecast that First Quantum Minerals Ltd. will post 0.03 EPS for the current fiscal year.

First Quantum Minerals Company Profile

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.