First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Time to Sell?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down prior to trading on Thursday . The stock had previously closed at $23.8650, but opened at $22.03. First Quantum Minerals shares last traded at $23.3660, with a volume of 920 shares traded.

Wall Street Analysts Forecast Growth

FQVLF has been the subject of several recent analyst reports. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a research report on Tuesday, February 24th. TD Securities reissued a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Down 1.4%

The stock has a 50 day moving average of $26.39 and a 200 day moving average of $24.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.86. The firm has a market cap of $20.65 billion, a P/E ratio of -619.00 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.33 billion. First Quantum Minerals had a positive return on equity of 0.07% and a negative net margin of 0.53%. As a group, equities research analysts predict that First Quantum Minerals Ltd. will post 0.03 EPS 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.