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

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) saw an uptick in trading volume on Thursday . 461,042 shares traded hands during mid-day trading, an increase of 116% from the previous session’s volume of 213,368 shares.The stock last traded at $24.89 and had previously closed at $24.54.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a report on Tuesday. TD Securities reissued a “hold” rating on shares of First Quantum Minerals in a research report on Monday, September 29th. Zacks Research downgraded First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, November 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The stock has a market cap of $20.75 billion, a P/E ratio of 497.66 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.94 and a quick ratio of 1.08. The company’s 50 day simple moving average is $22.10 and its 200 day simple moving average is $19.28.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, equities analysts forecast that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current 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.