First Quantum Minerals (OTCMKTS:FQVLF) Sees Large Volume Increase – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares saw unusually-strong trading volume on Thursday . Approximately 461,042 shares changed hands during mid-day trading, an increase of 116% from the previous session’s volume of 213,368 shares.The stock last traded at $24.89 and had previously closed at $24.54.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of First Quantum Minerals in a research report on Wednesday, October 29th. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a research note on Tuesday. Zacks Research downgraded shares of First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 26th. Finally, Raymond James Financial restated a “market perform” rating on shares of First Quantum Minerals in a research report on Friday, October 10th. Two research 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. Based on data from MarketBeat, First Quantum Minerals currently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Up 2.8%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.94. The company has a market cap of $21.33 billion, a PE ratio of 511.40 and a beta of 1.40. The firm has a fifty day simple moving average of $22.19 and a 200 day simple moving average of $19.40.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly 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). 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 the consensus estimate of $1.47 billion. Equities research analysts predict that First Quantum Minerals Ltd. will post 0.03 EPS for the current 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.