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    First Quantum Minerals: Short Interest Declines, Analysts Provide Insights

    BySam Figg

    Nov 16, 2023
    First Quantum Minerals: Short Interest Declines, Analysts Provide Insights

    First Quantum Minerals Ltd. (OTCMKTS:FQVLF) experienced a notable decrease in short interest during the month of September. As of September 15th, the total number of short interest shares stood at 4,714,800, marking a 9.3% decline from the previous month’s total of 5,199,400 shares. With an average daily trading volume of 144,300 shares, the short-interest ratio is currently 32.7 days.

    Wall Street analysts have also weighed in on the company, providing valuable insights. TD Securities raised their price target for First Quantum Minerals from C$41.00 to C$44.00, while BMO Capital Markets upgraded the stock from a “market perform” rating to an “outperform” rating. Furthermore, National Bank Financial increased their target price from C$37.00 to C$40.00. Stifel Nicolaus, however, opted to reduce their target price from C$40.00 to C$39.00. CIBC, on the other hand, raised their price objective from C$29.00 to C$34.00. The consensus rating for First Quantum Minerals, according to MarketBeat.com, is “Hold,” with a consensus target price of $33.83.

    Shares of First Quantum Minerals opened at $22.47 on Tuesday, with a 1-year low of $16.35 and a 1-year high of $29.79. The company’s current ratio is 1.70, while its quick ratio stands at 0.95. First Quantum Minerals has a debt-to-equity ratio of 0.48. The stock’s 50-day moving average price is $25.82, and its 200-day moving average price is $24.50. With a market capitalization of $15.58 billion, the stock has a price-to-earnings ratio of 39.42, a P/E/G ratio of 9.23, and a beta of 2.03.

    First Quantum Minerals recently announced a dividend, which was paid on Tuesday, September 19th. Shareholders of record on Monday, August 28th received a $0.0606 dividend. The ex-dividend date for this dividend was Friday, August 25th. The dividend represents a yield of 0.62%, and the company’s dividend payout ratio (DPR) currently stands at 21.05%.

    First Quantum Minerals Ltd. is primarily engaged in the exploration, development, and production of mineral properties. The company focuses on copper, nickel, pyrite, silver, gold, and zinc ores, and also produces acid. First Quantum Minerals operates mines in various locations including Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania. The company also has a development project in Zambia.

    For more information on First Quantum Minerals, please refer to the company’s official website.

    Frequently Asked Questions (FAQ)

    1. What is short interest?
    2. Short interest refers to the total number of shares of a particular stock that investors have sold short and have not yet covered or closed out their positions.

    3. What does the short-interest ratio represent?
    4. The short-interest ratio, also known as the days to cover ratio, indicates the number of days it would take for short sellers to cover their positions based on the average daily trading volume of a stock.

    5. What does the consensus rating mean?
    6. The consensus rating is an average rating based on recommendations from multiple Wall Street analysts. It provides an overall assessment of the stock’s potential.

    7. What is the payout ratio (DPR)?
    8. The dividend payout ratio (DPR) measures the percentage of a company’s earnings that are paid out to shareholders in the form of dividends.

    9. What does the P/E/G ratio indicate?
    10. The price-to-earnings growth (P/E/G) ratio compares a stock’s price-to-earnings ratio (P/E ratio) to its projected earnings growth rate. It helps investors assess the stock’s valuation relative to its growth prospects.