First Quantum Minerals (OTCMKTS:FQVLF) Posts Earnings Results, Beats Expectations By $0.12 EPS

First Quantum Minerals (OTCMKTS:FQVLF) released its quarterly earnings results on Wednesday. The basic materials company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.12, Zacks reports. First Quantum Minerals had a negative return on equity of 2.29% and a negative net margin of 1.44%.

First Quantum Minerals Trading Up 0.1%

Shares of OTCMKTS:FQVLF traded up $0.03 on Wednesday, hitting $25.72. The company had a trading volume of 221,294 shares, compared to its average volume of 279,685. The firm’s 50-day simple moving average is $30.02 and its two-hundred day simple moving average is $28.14. First Quantum Minerals has a 1 year low of $19.17 and a 1 year high of $35.48. The company has a quick ratio of 1.03, a current ratio of 1.90 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of -233.82 and a beta of 1.40.

Wall Street Analysts Forecast Growth

FQVLF has been the subject of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Zacks Research downgraded First Quantum Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. Citigroup restated a “positive” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Finally, TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. is a mining and metals company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, nickel and other mineral products as by-products of its operations. Its copper production supports industries such as electrical equipment, construction, transportation and renewable energy.

First Quantum’s principal operating assets include the Kansanshi copper-gold mine and the Sentinel copper mine in Zambia. The company has also operated the Cobre Panamá copper mine in Panama, although operations there were suspended following government action and a legal dispute in late 2023.