Citigroup Upgrades First Quantum Minerals (OTCMKTS:FQVLF) to Buy

Citigroup upgraded shares of First Quantum Minerals (OTCMKTS:FQVLF) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat.com reports.

A number of other equities research analysts also recently weighed in on the company. Raymond James boosted their target price on First Quantum Minerals from $13.00 to $16.00 and gave the stock a market perform rating in a research report on Wednesday, March 20th. Royal Bank of Canada upgraded First Quantum Minerals from a sector perform rating to an outperform rating in a research report on Monday, March 4th. BMO Capital Markets downgraded First Quantum Minerals from an outperform rating to a market perform rating in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group started coverage on First Quantum Minerals in a report on Tuesday, May 21st. They issued a buy rating for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, First Quantum Minerals presently has an average rating of Hold and a consensus price target of $33.33.

First Quantum Minerals Price Performance

Shares of FQVLF stock opened at $12.54 on Thursday. The stock’s fifty day simple moving average is $12.72 and its 200 day simple moving average is $10.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.68 and a quick ratio of 1.32. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of -7.38 and a beta of 1.63. First Quantum Minerals has a one year low of $6.92 and a one year high of $29.79.

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

About First Quantum Minerals

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.