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

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down before the market opened on Monday . The stock had previously closed at $20.32, but opened at $19.52. First Quantum Minerals shares last traded at $20.58, with a volume of 5,924 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FQVLF shares. TD Securities reiterated a “hold” rating on shares of First Quantum Minerals in a report on Monday, September 29th. BMO Capital Markets reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Wednesday, October 29th. Zacks Research cut shares of First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. National Bankshares restated an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, August 13th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of First Quantum Minerals in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Up 0.2%

The stock’s fifty day simple moving average is $21.45 and its 200-day simple moving average is $18.31. The stock has a market cap of $17.40 billion, a P/E ratio of 417.28 and a beta of 1.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.00.

First Quantum Minerals (OTCMKTS:FQVLF) last released 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). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.47 billion. First Quantum Minerals had a net margin of 0.92% and a return on equity of 0.29%. As a group, research analysts forecast that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.