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

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

First Quantum Minerals Stock Performance

OTCMKTS FQVLF traded up $0.12 on Wednesday, reaching $12.98. 484,056 shares of the company’s stock traded hands, compared to its average volume of 163,633. The stock has a 50 day moving average price of $10.67 and a 200-day moving average price of $10.74. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of -7.64 and a beta of 1.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.93 and a current ratio of 1.72. First Quantum Minerals has a fifty-two week low of $6.92 and a fifty-two week high of $29.79.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). First Quantum Minerals had a positive return on equity of 0.26% and a negative net margin of 20.02%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $931.34 million. Equities research analysts predict that First Quantum Minerals will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FQVLF. Raymond James raised their price objective on First Quantum Minerals from $13.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.33.

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.