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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped up prior to trading on Monday . The stock had previously closed at $22.24, but opened at $24.00. First Quantum Minerals shares last traded at $22.6810, with a volume of 2,810 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FQVLF shares. Scotiabank reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Tuesday, February 24th. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. Finally, Raymond James Financial reissued a “market perform” rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Three investment 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, the stock presently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42. The company has a market cap of $18.65 billion, a P/E ratio of -559.00 and a beta of 1.27. The stock’s fifty day moving average price is $26.74 and its two-hundred day moving average price is $24.42.

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