First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Should You Buy?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped up prior to trading on Monday . The stock had previously closed at $33.36, but opened at $35.00. First Quantum Minerals shares last traded at $32.98, with a volume of 5,938 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FQVLF shares. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. 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 note 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. Finally, Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Two investment 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, First Quantum Minerals presently has an average rating of “Buy”.

First Quantum Minerals Trading Down 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 business’s fifty day simple moving average is $28.82 and its 200 day simple moving average is $27.43. The stock has a market cap of $28.50 billion, a price-to-earnings ratio of -310.55 and a beta of 1.36.

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 analysts’ consensus estimates of ($0.07) by ($0.06). First Quantum Minerals had a negative return on equity of 2.28% and a negative net margin of 1.44%.The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.40 billion. On average, research analysts predict that First Quantum Minerals Ltd. will post 0.29 EPS 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.