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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $34.30, but opened at $32.4499. First Quantum Minerals shares last traded at $32.24, with a volume of 3,259 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FQVLF shares. TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 14th. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 3rd. Finally, Scotiabank restated 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 assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

First Quantum Minerals Stock Performance

The stock has a market cap of $26.22 billion, a price-to-earnings ratio of -285.68 and a beta of 1.40. 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 stock’s 50-day moving average is $29.41 and its 200-day moving average is $27.76.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly 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 net margin of 1.44% and a negative return on equity of 2.29%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.40 billion. Analysts anticipate that First Quantum Minerals Ltd. will post 0.29 EPS for the current fiscal year.

About First Quantum Minerals

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.