First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Time to Sell?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.5375, but opened at $25.06. First Quantum Minerals shares last traded at $25.33, with a volume of 646 shares trading hands.

Analyst Ratings Changes

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

First Quantum Minerals Stock Down 1.5%

The company has a market cap of $21.06 billion, a price-to-earnings ratio of -100.96 and a beta of 1.36. The stock’s 50-day moving average is $27.81 and its 200-day moving average is $27.23. The company has a current ratio of 1.42, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.36 billion. On average, analysts anticipate that First Quantum Minerals Ltd. will post 0.36 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.