First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Still a Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $26.57, but opened at $27.57. First Quantum Minerals shares last traded at $27.63, with a volume of 4,148 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. BMO Capital Markets reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Zacks Research lowered First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 26th. Finally, Raymond James Financial reissued a “market perform” rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals currently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $27.77 and a two-hundred day simple moving average of $23.03. The company has a market cap of $23.40 billion, a PE ratio of -701.25 and a beta of 1.32.

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

First Quantum Minerals Company Profile

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.