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

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down prior to trading 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.

Analysts Set New Price Targets

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

First Quantum Minerals Trading Up 4.8%

The business’s 50-day moving average price is $27.86 and its 200 day moving average price is $27.26. 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 firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of -110.45 and a beta of 1.36.

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