First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Still a Buy?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped up before the market opened on Monday . The stock had previously closed at $26.92, but opened at $29.99. First Quantum Minerals shares last traded at $27.8791, with a volume of 810 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FQVLF. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. UBS Group raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Morgan Stanley raised First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research report on Monday, May 18th. Finally, Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a report on Monday, May 4th. 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 currently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The company has a 50-day simple moving average of $27.82 and a two-hundred day simple moving average of $27.20. 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 firm has a market cap of $22.88 billion, a PE ratio of -109.70 and a beta of 1.36.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.22). The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. As a group, equities research analysts forecast that First Quantum Minerals Ltd. will post 0.36 earnings per share 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.