First Quantum Minerals (OTCMKTS:FQVLF) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of First Quantum Minerals (OTCMKTS:FQVLF) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks reports.

A number of other equities analysts also recently commented on the company. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 8th. Citigroup reissued a “positive” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Finally, Scotiabank reissued an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

FQVLF opened at $27.00 on Tuesday. The stock has a market cap of $22.52 billion, a price-to-earnings ratio of -245.46 and a beta of 1.40. First Quantum Minerals has a 1 year low of $19.17 and a 1 year high of $35.48. The company has a current ratio of 1.90, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $31.30 and a 200 day moving average price of $28.57.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its earnings results 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 during the quarter, compared to analyst estimates of $1.40 billion. Analysts forecast that First Quantum Minerals will post 0.28 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 operation of copper mines. The company also produces gold, nickel and zinc as part of its mining activities and sells concentrates and other mineral products to customers in international markets.

First Quantum’s principal operations have included the Kansanshi and Sentinel copper mines in Zambia, the Ravensthorpe nickel operation in Western Australia and the Cobre Panama copper mine in Panama.