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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $28.83, but opened at $27.57. First Quantum Minerals shares last traded at $27.81, with a volume of 2,016 shares.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Tuesday, February 24th. Raymond James Financial reaffirmed a “market perform” rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Wednesday, April 15th. TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Finally, UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Down 2.0%

The firm has a market capitalization of $22.77 billion, a P/E ratio of -682.25 and a beta of 1.40. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $25.91 and its 200-day simple moving average is $25.16.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, February 10th. The basic materials company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). First Quantum Minerals had a negative net margin of 0.53% and a positive return on equity of 0.07%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.33 billion. Analysts anticipate that First Quantum Minerals Ltd. will post 0.8 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.