First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Up – Here’s What Happened

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped up before the market opened on Monday . The stock had previously closed at $22.24, but opened at $24.00. First Quantum Minerals shares last traded at $22.6810, with a volume of 2,810 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FQVLF shares. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. TD Securities reissued a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Raymond James Financial restated a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. Scotiabank reaffirmed an “outperform” rating on shares of First Quantum Minerals in a research report on Tuesday, February 24th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Trading Down 0.3%

The business has a fifty day moving average price of $26.74 and a 200-day moving average price of $24.42. 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 company has a market cap of $18.65 billion, a P/E ratio of -559.00 and a beta of 1.27.

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