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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 6,707,300 shares, a decline of 6.4% from the November 15th total of 7,168,100 shares. Based on an average daily volume of 369,900 shares, the short-interest ratio is presently 18.1 days.

First Quantum Minerals Price Performance

FQVLF stock opened at $13.07 on Wednesday. First Quantum Minerals has a 1-year low of $7.72 and a 1-year high of $15.23. The business’s 50 day simple moving average is $13.42 and its 200 day simple moving average is $12.83. The company has a current ratio of 1.80, a quick ratio of 0.93 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $10.90 billion, a PE ratio of -5.86 and a beta of 1.50.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.02 by $0.12. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.09 billion. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 2.69%. As a group, research analysts anticipate that First Quantum Minerals will post -0.12 EPS for the current year.

Analysts Set New Price Targets

Separately, Barclays raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.