First Quantum Minerals (OTCMKTS:FQVLF) Sets New 52-Week High – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $29.84 and last traded at $29.84, with a volume of 2186 shares trading hands. The stock had previously closed at $29.25.

Analysts Set New Price Targets

A number of research firms have recently commented on FQVLF. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 26th. Scotiabank restated a “sector perform” rating on shares of First Quantum Minerals in a research report on Tuesday, October 28th. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a research note on Monday, September 29th. Citigroup reissued a “buy” rating on shares of First Quantum Minerals in a report on Wednesday, October 8th. Finally, Zacks Research cut First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Up 1.6%

The company has a market cap of $24.79 billion, a P/E ratio of 594.52 and a beta of 1.33. The firm’s 50 day moving average is $24.12 and its two-hundred day moving average is $20.84. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.45.

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