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 $31.05, but opened at $29.1201. First Quantum Minerals shares last traded at $31.6840, with a volume of 837 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Securities raised First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 14th. Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 8th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Citigroup reaffirmed a “positive” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Finally, Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

First Quantum Minerals Trading Up 2.0%

The stock has a market cap of $26.41 billion, a P/E ratio of -287.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.90. The firm’s fifty day simple moving average is $30.54 and its 200-day simple moving average is $28.06.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). First Quantum Minerals had a negative return on equity of 2.29% and a negative net margin of 1.44%.The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.40 billion. Equities research analysts expect that First Quantum Minerals Ltd. will post 0.32 EPS for the current fiscal year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. is a Canadian mining and metals company focused primarily on the exploration, development and production of copper. The company also produces other byproducts, including gold, silver and nickel, depending on the characteristics of its mining operations.

First Quantum’s principal operating assets have included the Kansanshi and Sentinel copper mines in Zambia, along with the Cobre Panama copper mine in Panama. Cobre Panama has been subject to a government-ordered suspension since late 2023, while the company continues to focus on its operating assets, development projects and broader portfolio in jurisdictions including Africa, Australia and the Americas.

Founded in 1996 and headquartered in Vancouver, British Columbia, First Quantum has grown through the development and acquisition of large-scale international mining projects.