First Quantum Minerals (OTCMKTS:FQVLF) Hits New 12-Month High – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.46 and last traded at $28.36, with a volume of 10413 shares changing hands. The stock had previously closed at $27.10.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Citigroup reissued a “buy” rating on shares of First Quantum Minerals in a research note on Wednesday, October 8th. Raymond James Financial reissued a “market perform” rating on shares of First Quantum Minerals in a research report on Friday, October 10th. Scotiabank restated a “sector perform” rating on shares of First Quantum Minerals in a research report on Tuesday, October 28th. Zacks Research lowered First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of First Quantum Minerals in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Down 2.2%

The firm has a fifty day simple moving average of $23.35 and a 200 day simple moving average of $20.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.94. The company has a market cap of $23.04 billion, a PE ratio of 552.51 and a beta of 1.33.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share 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 analysts’ expectations of $1.47 billion. Equities research analysts predict 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.