First Quantum Minerals (OTCMKTS:FQVLF) Trading 7.8% Higher – Here’s What Happened

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) was up 7.8% during mid-day trading on Monday . The stock traded as high as $22.64 and last traded at $22.55. Approximately 208,508 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 202,086 shares. The stock had previously closed at $20.92.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FQVLF shares. National Bankshares reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Wednesday, August 13th. TD Securities reiterated a “hold” rating on shares of First Quantum Minerals in a research note on Monday. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, July 28th. Raymond James Financial upgraded shares of First Quantum Minerals to a “hold” rating in a research note on Monday, June 30th. Finally, Scotiabank reissued a “sector perform” rating on shares of First Quantum Minerals in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, First Quantum Minerals has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The firm has a market capitalization of $18.84 billion, a PE ratio of 94.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.00. The company’s fifty day simple moving average is $17.81 and its 200 day simple moving average is $15.80.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Wednesday, July 23rd. The basic materials company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. First Quantum Minerals had a net margin of 4.08% and a return on equity of 1.44%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities research analysts expect 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.