First Quantum Minerals (OTCMKTS:FQVLF) Shares Down 21% – Should You Sell?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) was down 21% on Wednesday. The stock traded as low as $20.17 and last traded at $25.16. 44,844 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 283,580 shares. The stock had previously closed at $31.85.

Analyst Upgrades and Downgrades

FQVLF has been the subject of a number of research analyst reports. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 3rd. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Monday, June 15th. Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Finally, Barclays reissued an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, First Quantum Minerals has an average rating of “Buy”.

First Quantum Minerals Stock Down 12.9%

The firm has a 50-day moving average of $31.28 and a 200 day moving average of $28.40. The stock has a market capitalization of $23.15 billion, a price-to-earnings ratio of -252.27 and a beta of 1.40. The company has a current ratio of 1.90, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its 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). The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.40 billion. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 2.29%. On average, sell-side analysts anticipate that First Quantum Minerals Ltd. will post 0.32 earnings per share for the current year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. is a Canadian mining and metals company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, nickel and zinc as part of its mining activities and sells concentrates and other mineral products to customers in international markets.

First Quantum’s principal operations have included the Kansanshi and Sentinel copper mines in Zambia, the Ravensthorpe nickel operation in Western Australia and the Cobre Panama copper mine in Panama.