Morgan Stanley upgraded First Quantum Minerals (OTCMKTS:FQVLF) from an underweight rating to an equal weight rating, according to a research note published on Thursday. This comes after several other reports on FQVLF, where some analysts lowered their price targets and others raised their target prices on the stock. First Quantum Minerals currently has a consensus rating of Hold, with one sell rating, four hold ratings and five buy ratings assigned to the stock.
Shares of First Quantum Minerals opened at $22.47 on Thursday, the 50 day moving average was $24.88 and the 200 day moving average was $24.56. The company has a market capitalization of $15.58 billion and a price-to-earnings ratio of 39.42. FQVLF has a beta of 2.03, indicating higher volatility compared to the overall market. The stock has a twelve month low of $16.35 and a twelve month high of $29.79.
In its latest quarterly earnings report, First Quantum Minerals reported earnings per share of $0.12, which was in line with analyst consensus estimates. The company’s revenue for the quarter was $1.65 billion. First Quantum Minerals has a return on equity of 3.33% and a net profit of 5.88%. Sell-side analysts forecast that the company will post $0.84 earnings per share for the current fiscal year.
First Quantum Minerals recently 0.0606. paid a dividend of $28 per share to record shareholders in August, resulting in a yield of 0.62%. The company’s dividend payout ratio is currently 21.05%.
First Quantum Minerals is engaged in the research, development and production of mineral properties. The company mainly explores copper, nickel, pyrite, silver, gold and zinc ores and produces acid. First Quantum Minerals operates mines in several countries, including Zambia, Panama, Finland, Turkey, Spain, Australia and Mauritania, with additional development projects in Zambia.
Sources:
– MarketBeat.com
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2023-10-13 12:45:12
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