Short Interest in First Quantum Minerals Ltd. (OTCMKTS:FQVLF) Drops By 6.4%

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

First Quantum Minerals Price Performance

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

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

Analyst Ratings Changes

Separately, Barclays raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy” and a consensus target price 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.