First Quantum Minerals (OTCMKTS:FQVLF) Sees Unusually-High Trading Volume – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares saw unusually-high trading volume on Thursday . Approximately 652,478 shares traded hands during mid-day trading, an increase of 83% from the previous session’s volume of 356,043 shares.The stock last traded at $26.06 and had previously closed at $26.78.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research cut First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, October 29th. Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. Finally, Scotiabank raised First Quantum Minerals from a “hold” rating to an “outperform” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Up 3.6%

The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $27.77 and its two-hundred day moving average price is $22.94. The firm has a market cap of $22.96 billion, a PE ratio of -688.00 and a beta of 1.32.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings data on Tuesday, February 10th. The basic materials company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). First Quantum Minerals had a negative net margin of 0.53% and a positive return on equity of 0.07%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.33 billion. As a group, sell-side analysts forecast that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current fiscal 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.