First Quantum Minerals (OTCMKTS:FQVLF) Hits New 52-Week High – Time to Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price hit a new 52-week high on Monday . The stock traded as high as $31.8699 and last traded at $30.8540, with a volume of 8338 shares changing hands. The stock had previously closed at $29.79.

Analyst Ratings Changes

Several brokerages have recently commented on FQVLF. Scotiabank restated a “sector perform” rating on shares of First Quantum Minerals in a research report on Friday, January 16th. Zacks Research cut First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research report on Monday, September 29th. Stifel Nicolaus raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Finally, Raymond James Financial reissued a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Trading Up 3.1%

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 stock has a 50-day moving average price of $25.44 and a two-hundred day moving average price of $21.48. The stock has a market cap of $25.62 billion, a PE ratio of 614.32 and a beta of 1.33.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its earnings results 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). The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.47 billion. First Quantum Minerals had a return on equity of 0.29% and a net margin of 0.92%. Sell-side analysts forecast 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. 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.