First Quantum Minerals (OTCMKTS:FQVLF) Sees Large Volume Increase – Time to Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares saw strong trading volume on Friday . 246,027 shares traded 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 have recently issued reports on the stock. Zacks Research cut shares of First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. TD Securities reiterated a “hold” rating on shares of First Quantum Minerals in a research note on Monday, September 29th. BMO Capital Markets reissued an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of First Quantum Minerals in a report on Friday, October 10th. Finally, Stifel Canada upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

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 stock has a market capitalization of $18.92 billion, a price-to-earnings ratio of 453.69 and a beta of 1.47. The business’s 50 day simple moving average is $21.53 and its 200-day simple moving average is $18.35.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). First Quantum Minerals had a return on equity of 0.29% and a net margin of 0.92%.The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, research analysts forecast that First Quantum Minerals Ltd. will post 0.03 earnings per share 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.