First Quantum Minerals (OTCMKTS:FQVLF) Issues Earnings Results, Misses Expectations By $0.06 EPS

First Quantum Minerals (OTCMKTS:FQVLF) released its quarterly earnings data on Tuesday. The basic materials company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06), Zacks reports. First Quantum Minerals had a negative return on equity of 2.28% and a negative net margin of 1.44%.The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.40 billion.

First Quantum Minerals Price Performance

Shares of OTCMKTS:FQVLF traded up $0.21 on Thursday, hitting $27.32. The company had a trading volume of 2,419 shares, compared to its average volume of 333,354. The company has a current ratio of 1.42, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44. First Quantum Minerals has a 52-week low of $15.60 and a 52-week high of $33.33. The business has a 50 day moving average of $28.40 and a 200 day moving average of $27.25. The company has a market cap of $22.79 billion, a PE ratio of -248.36 and a beta of 1.36.

Analysts Set New Price Targets

FQVLF has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, June 3rd. Citigroup reissued a “positive” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Finally, TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Buy”.

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.