First Quantum Minerals (OTCMKTS:FQVLF) Reaches New 12-Month High – Still a Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price reached a new 52-week high on Wednesday . The company traded as high as $29.84 and last traded at $29.84, with a volume of 2186 shares traded. The stock had previously closed at $29.25.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FQVLF. Stifel Canada raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Raymond James Financial restated a “market perform” rating on shares of First Quantum Minerals in a research report on Wednesday. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Monday, September 29th. Zacks Research lowered shares of 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 report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, First Quantum Minerals has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Down 1.1%

The firm’s 50-day simple moving average is $24.49 and its 200 day simple moving average is $20.96. 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 capitalization of $24.38 billion, a PE ratio of 584.70 and a beta of 1.33.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.47 billion. First Quantum Minerals had a net margin of 0.92% and a return on equity of 0.29%. As a group, equities research analysts forecast that First Quantum Minerals Ltd. will post 0.03 earnings per share 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.