First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Here’s What Happened

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped up before the market opened on Friday . The stock had previously closed at $25.88, but opened at $27.36. First Quantum Minerals shares last traded at $26.3948, with a volume of 3,212 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley upgraded shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research note on Monday. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a research note on Wednesday, May 13th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of First Quantum Minerals in a research note on Wednesday, April 15th. Finally, Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, First Quantum Minerals presently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Up 1.0%

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 company’s fifty day moving average is $25.27 and its 200-day moving average is $25.60. The stock has a market cap of $22.23 billion, a PE ratio of -106.60 and a beta of 1.26.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, analysts predict that First Quantum Minerals Ltd. will post 0.49 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

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.