First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Time to Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $28.4850, but opened at $31.02. First Quantum Minerals shares last traded at $30.68, with a volume of 2,180 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, May 4th. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Finally, Morgan Stanley upgraded First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Up 2.3%

The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44. The stock has a market cap of $25.84 billion, a PE ratio of -123.92 and a beta of 1.33. The business has a 50 day moving average price of $27.30 and a 200 day moving average price of $26.56.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%.The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Equities research analysts expect that First Quantum Minerals Ltd. will post 0.32 EPS 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.