First Quantum Minerals (OTCMKTS:FQVLF) Trading Down 9.9% – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price fell 9.9% on Tuesday . The stock traded as low as $27.57 and last traded at $27.57. 2,334 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 364,564 shares. The stock had previously closed at $30.6101.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Scotiabank reissued an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Morgan Stanley raised shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research report on Monday, May 18th. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Finally, Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Down 7.3%

The stock has a market cap of $22.93 billion, a P/E ratio of -109.95 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. The company has a 50-day simple moving average of $28.05 and a two-hundred day simple moving average of $27.02.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.22). First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%.The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, equities analysts forecast that First Quantum Minerals Ltd. will post 0.35 EPS for the current 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.