First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Still a Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $21.26, but opened at $23.07. First Quantum Minerals shares last traded at $23.0340, with a volume of 3,083 shares trading hands.

Analysts Set New Price Targets

FQVLF has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 26th. Raymond James Financial restated a “market perform” rating on shares of First Quantum Minerals in a report on Friday, October 10th. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a research report on Monday, September 29th. National Bankshares reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Wednesday, August 13th. Finally, Stifel Canada raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Two equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Trading Down 0.3%

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.00. The stock’s 50-day moving average is $21.60 and its two-hundred day moving average is $18.46. The company has a market cap of $18.86 billion, a P/E ratio of 452.29 and a beta of 1.47.

First Quantum Minerals (OTCMKTS:FQVLF) last announced 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 analysts’ expectations of $1.47 billion. First Quantum Minerals had a net margin of 0.92% and a return on equity of 0.29%. As a group, equities research analysts predict that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current fiscal year.

About First Quantum Minerals

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.