First Quantum Minerals (OTCMKTS:FQVLF) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $28.51 and traded as high as $31.5535. First Quantum Minerals shares last traded at $31.40, with a volume of 30,652 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Scotiabank reaffirmed an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals has a consensus rating of “Buy”.

First Quantum Minerals Stock Up 1.1%

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.86. The stock has a market cap of $26.19 billion, a PE ratio of -285.45 and a beta of 1.36. The business has a fifty day moving average of $28.51 and a 200-day moving average of $27.34.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.40 billion. First Quantum Minerals had a negative return on equity of 2.28% and a negative net margin of 1.44%. Equities research analysts anticipate that First Quantum Minerals Ltd. will post 0.27 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.