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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 5,121,300 shares, an increase of 14.5% from the June 30th total of 4,473,800 shares. Based on an average daily volume of 181,800 shares, the days-to-cover ratio is currently 28.2 days.

First Quantum Minerals Trading Down 0.1 %

OTCMKTS:FQVLF traded down $0.02 during mid-day trading on Monday, reaching $12.08. The company’s stock had a trading volume of 83,600 shares, compared to its average volume of 299,197. First Quantum Minerals has a twelve month low of $6.92 and a twelve month high of $29.79. The stock has a market cap of $10.08 billion, a P/E ratio of -7.11 and a beta of 1.57. The company’s fifty day simple moving average is $12.86 and its two-hundred day simple moving average is $11.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.68 and a quick ratio of 1.32.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its earnings results on Tuesday, July 23rd. The basic materials company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. First Quantum Minerals had a negative return on equity of 0.57% and a negative net margin of 24.07%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.04 billion. On average, equities analysts predict that First Quantum Minerals will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on First Quantum Minerals in a research report on Tuesday, May 21st. They issued a “buy” rating for the company. Citigroup upgraded First Quantum Minerals from a “neutral” rating to a “buy” rating in a research report on Thursday, June 20th. BMO Capital Markets cut First Quantum Minerals from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley cut First Quantum Minerals from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 8th. Five 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 has a consensus rating of “Hold” and a consensus price target of $21.00.

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.