First Quantum Minerals (OTCMKTS:FQVLF) Reaches New 52-Week High After Analyst Upgrade

Shares of First Quantum Minerals Limited (OTCMKTS:FQVLF) hit a new 52-week high during mid-day trading on Wednesday after Raymond James raised their price target on the stock from $16.00 to $17.00. Raymond James currently has a market perform rating on the stock. First Quantum Minerals traded as high as $10.95 and last traded at $10.75, with a volume of 44673 shares. The stock had previously closed at $9.94.

Several other brokerages also recently issued reports on FQVLF. Morgan Stanley raised shares of First Quantum Minerals to a “buy” rating and set a $12.20 price objective for the company in a research note on Tuesday, June 9th. Citigroup lifted their price target on shares of First Quantum Minerals from $11.00 to $14.10 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Deutsche Bank raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Monday, July 13th. BMO Capital Markets lifted their price objective on shares of First Quantum Minerals from $14.25 to $14.75 and gave the company an “outperform” rating in a report on Tuesday. Finally, Canaccord Genuity lifted their price objective on shares of First Quantum Minerals from $17.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. First Quantum Minerals currently has an average rating of “Buy” and a consensus price target of $14.31.

The company’s fifty day simple moving average is $9.40 and its 200-day simple moving average is $7.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.50 and a quick ratio of 0.77. The firm has a market capitalization of $7.41 billion, a PE ratio of -17.91 and a beta of 2.54.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter. First Quantum Minerals had a negative return on equity of 0.74% and a negative net margin of 9.09%. The firm had revenue of $1.01 billion during the quarter.

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, August 28th will be issued a dividend of $0.004 per share. The ex-dividend date of this dividend is Thursday, August 27th.

First Quantum Minerals Company Profile (OTCMKTS:FQVLF)

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

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