Canaccord Genuity Group Upgrades First Quantum Minerals (OTCMKTS:FQVLF) to Strong-Buy

First Quantum Minerals (OTCMKTS:FQVLF) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets upgraded shares of First Quantum Minerals to a “strong-buy” rating in a research note on Tuesday. Desjardins initiated coverage on First Quantum Minerals in a report on Friday, April 4th. They set a “hold” rating for the company. National Bankshares reissued an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, April 2nd. Finally, Stifel Canada upgraded shares of First Quantum Minerals to a “hold” rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Buy”.

First Quantum Minerals Stock Down 0.7 %

FQVLF stock opened at $11.95 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. First Quantum Minerals has a twelve month low of $10.18 and a twelve month high of $16.23. The firm has a 50 day simple moving average of $13.06 and a 200-day simple moving average of $13.24. The company has a market capitalization of $9.97 billion, a P/E ratio of -597.45 and a beta of 1.32.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, February 11th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). First Quantum Minerals had a net margin of 0.04% and a negative return on equity of 0.15%. On average, equities research analysts predict that First Quantum Minerals will post 0.03 earnings per share for the current fiscal 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.