First Quantum Minerals (OTCMKTS:FQVLF) Announces Quarterly Earnings Results

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

First Quantum Minerals Stock Up 0.1%

Shares of OTCMKTS FQVLF traded up $0.03 during trading hours on Wednesday, hitting $25.72. 221,294 shares of the stock were exchanged, compared to its average volume of 279,685. First Quantum Minerals has a 12 month low of $19.17 and a 12 month 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 company has a market cap of $21.46 billion, a PE ratio of -233.82 and a beta of 1.40. The firm has a fifty day moving average price of $30.02 and a 200-day moving average price of $28.14.

Wall Street Analysts Forecast Growth

FQVLF has been the topic of several recent analyst reports. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Citigroup restated a “positive” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Finally, Zacks Research downgraded First Quantum Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Moderate Buy”.

About First Quantum Minerals

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.