First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped down prior to trading on Thursday . The stock had previously closed at $28.7295, but opened at $27.5350. First Quantum Minerals shares last traded at $28.58, with a volume of 1,431 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of First Quantum Minerals in a report on Wednesday, April 15th. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Finally, Barclays restated an “overweight” rating on shares of First Quantum Minerals in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Trading Up 0.9%

The business’s fifty day moving average is $25.54 and its 200-day moving average is $25.81. The stock has a market capitalization of $24.18 billion, a PE ratio of -115.92 and a beta of 1.26. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44.

First Quantum Minerals (OTCMKTS:FQVLF) last released its earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. As a group, analysts anticipate that First Quantum Minerals Ltd. will post 0.41 EPS for the current fiscal 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.