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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) was the recipient of a significant decrease in short interest in 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

OTCMKTS FQVLF traded down $0.54 during trading hours on Monday, reaching $13.07. 88,774 shares of the company’s stock were exchanged, compared to its average volume of 262,998. The firm has a fifty day moving average of $13.43 and a 200-day moving average of $12.83. First Quantum Minerals has a one year low of $7.72 and a one year high of $15.23. The stock has a market cap of $10.90 billion, a PE ratio of -6.10 and a beta of 1.50. The company has a current ratio of 1.80, a quick ratio of 0.93 and a debt-to-equity ratio of 0.48.

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

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Three investment 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’s stock. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy” and an average price target of $16.00.

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.