First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Should You Sell?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down before the market opened on Monday . The stock had previously closed at $31.39, but opened at $27.51. First Quantum Minerals shares last traded at $30.00, with a volume of 3,622 shares.

Analysts Set New Price Targets

FQVLF has been the topic of several research analyst reports. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Morgan Stanley raised shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research note on Monday, May 18th. Finally, UBS Group raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $26.98. The company has a market capitalization of $24.74 billion, a P/E ratio of -118.64 and a beta of 1.33. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.22). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. As a group, sell-side analysts expect that First Quantum Minerals Ltd. will post 0.35 earnings per share for the current fiscal 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.