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 $30.13, but opened at $28.50. First Quantum Minerals shares last traded at $30.16, with a volume of 5,733 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on FQVLF shares. Stifel Nicolaus raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. BMO Capital Markets reaffirmed an “outperform” rating on shares of First Quantum Minerals in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft downgraded First Quantum Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Raymond James Financial reissued a “market perform” rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Finally, Scotiabank reiterated a “sector perform” rating on shares of First Quantum Minerals in a research report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Up 1.1%

The stock has a fifty day moving average of $26.26 and a 200-day moving average of $21.79. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $25.82 billion, a price-to-earnings ratio of 619.12 and a beta of 1.33.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). First Quantum Minerals had a net margin of 0.92% and a return on equity of 0.29%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.47 billion. As a group, sell-side analysts expect that First Quantum Minerals Ltd. will post 0.03 EPS for the current year.

About First Quantum Minerals

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.