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Strength Seen in First Quantum Minerals (FQVLF): Can Its 6.0% Jump Turn into More Strength?
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First Quantum Minerals (FQVLF - Free Report) shares rallied 6% in the last trading session to close at $12.20. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.6% gain over the past four weeks.
First Quantum Minerals shares have gained on reports that drilling at the La Granja project in Peru is at 35% and progressing well. The company expects updated drilling results in the second half of 2025 and feasibility studies by 2028.
First Quantum has a 55% interest in the project, which is one of the largest undeveloped copper deposits in the world. FQVLF committed an initial funding of $546 million for its development when it acquired the project in August 2023.
Per recent reports, First Quantum is likely to start the construction on the Taca Taca project in Argentina. It is an open-pit copper, molybdenum and gold mining project with an expected mine life of 32 years and an annual production capacity of 275,000 tons of copper.
The recent spike in copper and gold prices also fueled the uptick in First Quantum’s share price. Copper prices have gained on improving demand in China. Gold prices have surged to around $2,560 an ounce, setting a new high on a weaker dollar and lower bond yields. Recent U.S. economic data have heightened expectations of interest rate cuts by the Fed next week.
This metal and minerals mining company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of -92.3%. Revenues are expected to be $1.06 billion, down 47.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For First Quantum Minerals, the consensus EPS estimate for the quarter has been revised 17.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FQVLF going forward to see if this recent jump can turn into more strength down the road.
First Quantum Minerals belongs to the Zacks Mining - Non Ferrous industry. Another stock from the same industry, Centrus Energy Corp. (LEU - Free Report) , closed the last trading session 1.2% lower at $39.40. Over the past month, LEU has returned 8.3%.
Centrus Energy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.18. Compared to the company's year-ago EPS, this represents a change of -65.4%. Centrus Energy currently boasts a Zacks Rank of #1 (Strong Buy).
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Strength Seen in First Quantum Minerals (FQVLF): Can Its 6.0% Jump Turn into More Strength?
First Quantum Minerals (FQVLF - Free Report) shares rallied 6% in the last trading session to close at $12.20. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.6% gain over the past four weeks.
First Quantum Minerals shares have gained on reports that drilling at the La Granja project in Peru is at 35% and progressing well. The company expects updated drilling results in the second half of 2025 and feasibility studies by 2028.
First Quantum has a 55% interest in the project, which is one of the largest undeveloped copper deposits in the world. FQVLF committed an initial funding of $546 million for its development when it acquired the project in August 2023.
Per recent reports, First Quantum is likely to start the construction on the Taca Taca project in Argentina. It is an open-pit copper, molybdenum and gold mining project with an expected mine life of 32 years and an annual production capacity of 275,000 tons of copper.
The recent spike in copper and gold prices also fueled the uptick in First Quantum’s share price. Copper prices have gained on improving demand in China. Gold prices have surged to around $2,560 an ounce, setting a new high on a weaker dollar and lower bond yields. Recent U.S. economic data have heightened expectations of interest rate cuts by the Fed next week.
This metal and minerals mining company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of -92.3%. Revenues are expected to be $1.06 billion, down 47.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For First Quantum Minerals, the consensus EPS estimate for the quarter has been revised 17.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FQVLF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
First Quantum Minerals belongs to the Zacks Mining - Non Ferrous industry. Another stock from the same industry, Centrus Energy Corp. (LEU - Free Report) , closed the last trading session 1.2% lower at $39.40. Over the past month, LEU has returned 8.3%.
Centrus Energy's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.18. Compared to the company's year-ago EPS, this represents a change of -65.4%. Centrus Energy currently boasts a Zacks Rank of #1 (Strong Buy).