First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Should You Sell?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped down before the market opened on Wednesday . The stock had previously closed at $33.3150, but opened at $31.50. First Quantum Minerals shares last traded at $32.9210, with a volume of 13,785 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FQVLF shares. Morgan Stanley raised shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research report on Monday, May 18th. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, May 13th. Finally, TD Securities reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Two equities research 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 company’s stock. According to data from MarketBeat, First Quantum Minerals 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’s 50 day moving average price is $26.03 and its 200 day moving average price is $26.01. The firm has a market capitalization of $27.31 billion, a P/E ratio of -130.94 and a beta of 1.33.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly 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 net margin of 3.69% and a negative return on equity of 1.21%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, sell-side analysts anticipate that First Quantum Minerals Ltd. will post 0.32 EPS 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.