First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – What’s Next?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down prior to trading on Tuesday . The stock had previously closed at $22.44, but opened at $21.25. First Quantum Minerals shares last traded at $22.2040, with a volume of 5,446 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FQVLF. Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a report on Tuesday, December 16th. TD Securities reissued a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, November 26th. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Tuesday, February 24th. Finally, Raymond James Financial restated a “market perform” rating on shares of First Quantum Minerals in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

First Quantum Minerals Trading Up 1.3%

The company’s 50-day moving average is $27.28 and its 200-day moving average is $24.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of -568.25 and a beta of 1.27.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings data on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). First Quantum Minerals had a negative net margin of 0.53% and a positive return on equity of 0.07%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.33 billion. On average, research analysts predict that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. is a Canada-based mining company principally engaged in the exploration, development, production and marketing of copper and other mineral commodities. Headquartered in Vancouver, British Columbia, the company develops and operates large-scale open-pit and underground mines and associated processing facilities. Its activities span the full value chain from exploration and feasibility studies through to mining, milling and the sale of concentrates and refined metals to global customers.

Copper is the company’s primary product, produced alongside by-products such as gold, nickel, zinc and cobalt depending on the orebody.