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 Tuesday . The stock had previously closed at $23.85, but opened at $22.26. First Quantum Minerals shares last traded at $23.2225, with a volume of 1,634 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a research report on Tuesday, February 24th. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a research report on Wednesday, January 14th. TD Securities reissued a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of First Quantum Minerals in a research report on Wednesday, April 15th. Two 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 stock. Based on data from MarketBeat, First Quantum Minerals currently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company has a 50-day moving average of $25.52 and a 200 day moving average of $25.29. 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 stock has a market capitalization of $20.30 billion, a PE ratio of -97.32 and a beta of 1.26.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. Sell-side analysts predict that First Quantum Minerals Ltd. will post 0.5 EPS 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.