First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Here’s Why

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down before the market opened on Monday . The stock had previously closed at $27.46, but opened at $26.20. First Quantum Minerals shares last traded at $27.11, with a volume of 3,259 shares traded.

Wall Street Analysts Forecast Growth

FQVLF has been the subject of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Tuesday, February 24th. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a report on Tuesday, December 16th. Finally, TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research report on Thursday, February 12th. Three investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Down 0.1%

The firm has a market capitalization of $22.88 billion, a P/E ratio of -685.75 and a beta of 1.40. 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 business has a 50-day moving average price of $25.88 and a 200-day moving average price of $24.84.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.33 billion. First Quantum Minerals had a negative net margin of 0.53% and a positive return on equity of 0.07%. Analysts anticipate that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current 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.