First Quantum Minerals (OTCMKTS:FQVLF) Sees Large Volume Increase – Still a Buy?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) saw strong trading volume on Friday . 246,027 shares changed hands during trading, an increase of 15% from the previous session’s volume of 214,777 shares.The stock last traded at $22.76 and had previously closed at $21.26.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FQVLF shares. National Bankshares reiterated an “outperform” rating on shares of First Quantum Minerals in a research report on Wednesday, August 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Zacks Research lowered shares of First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Scotiabank reissued a “sector perform” rating on shares of First Quantum Minerals in a research note on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, First Quantum Minerals has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The stock has a market cap of $18.92 billion, a price-to-earnings ratio of 453.69 and a beta of 1.47. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $21.60 and a 200 day simple moving average of $18.44.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.47 billion. First Quantum Minerals had a return on equity of 0.29% and a net margin of 0.92%. As a group, equities research analysts forecast 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.