First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $28.30, but opened at $29.77. First Quantum Minerals shares last traded at $27.73, with a volume of 4,112 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FQVLF. TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Barclays reissued an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Citigroup reaffirmed a “positive” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Finally, Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

First Quantum Minerals Trading Up 0.4%

The firm has a market capitalization of $23.69 billion, a PE ratio of -258.18 and a beta of 1.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.90 and a quick ratio of 1.03. The company has a fifty day moving average of $31.27 and a 200-day moving average of $28.49.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). First Quantum Minerals had a negative return on equity of 2.29% and a negative net margin of 1.44%.The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.40 billion. On average, sell-side analysts anticipate that First Quantum Minerals Ltd. will post 0.32 earnings per share for the current fiscal year.

About First Quantum Minerals

First Quantum Minerals Ltd. is a Canadian mining and metals company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, nickel and zinc as part of its mining activities and sells concentrates and other mineral products to customers in international markets.

First Quantum’s principal operations have included the Kansanshi and Sentinel copper mines in Zambia, the Ravensthorpe nickel operation in Western Australia and the Cobre Panama copper mine in Panama.