First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped down prior to trading on Monday . The stock had previously closed at $26.9360, but opened at $25.26. First Quantum Minerals shares last traded at $25.26, with a volume of 392 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, May 13th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Morgan Stanley upgraded shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a report on Monday. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, May 4th. Finally, UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.86. The company has a market capitalization of $20.69 billion, a PE ratio of -99.20 and a beta of 1.26. The stock’s 50 day simple moving average is $25.18 and its 200-day simple moving average is $25.53.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%. As a group, equities analysts forecast that First Quantum Minerals Ltd. will post 0.49 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.