First Quantum Minerals (OTCMKTS:FQVLF) Reaches New 1-Year High – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) hit a new 52-week high on Tuesday . The stock traded as high as $22.70 and last traded at $22.69, with a volume of 294924 shares trading hands. The stock had previously closed at $20.92.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FQVLF shares. Barclays reissued an “overweight” rating on shares of First Quantum Minerals in a report on Monday, July 28th. Raymond James Financial raised shares of First Quantum Minerals to a “hold” rating in a report on Monday, June 30th. Scotiabank restated a “sector perform” rating on shares of First Quantum Minerals in a research report on Tuesday, July 8th. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Monday. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of First Quantum Minerals in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The business’s 50 day moving average is $18.11 and its two-hundred day moving average is $15.95. The firm has a market capitalization of $19.02 billion, a PE ratio of 95.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.00.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings results on Wednesday, July 23rd. The basic materials company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.06 billion. First Quantum Minerals had a net margin of 4.08% and a return on equity of 1.44%. As a group, research analysts anticipate that First Quantum Minerals Ltd. will post 0.03 EPS for the current 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.