First Quantum Minerals Ltd. (OTCMKTS:FQVLF) Sees Large Increase in Short Interest

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,066,800 shares, an increase of 12.7% from the March 31st total of 2,722,400 shares. Based on an average daily trading volume, of 207,000 shares, the days-to-cover ratio is currently 14.8 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FQVLF shares. Raymond James upped their price objective on First Quantum Minerals from $13.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, March 20th. Royal Bank of Canada upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.33.

First Quantum Minerals Trading Up 0.9 %

Shares of OTCMKTS FQVLF traded up $0.12 during mid-day trading on Tuesday, hitting $12.98. 80,634 shares of the company traded hands, compared to its average volume of 307,052. First Quantum Minerals has a 1 year low of $6.92 and a 1 year high of $29.79. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of -7.64 and a beta of 1.82. The company has a quick ratio of 0.93, a current ratio of 1.72 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $10.67 and a two-hundred day moving average of $10.74.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.06). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $931.34 million. First Quantum Minerals had a negative net margin of 20.02% and a positive return on equity of 0.26%. On average, sell-side analysts anticipate that First Quantum Minerals will post -0.15 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

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.