First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $25.58, but opened at $22.01. First Quantum Minerals shares last traded at $25.7125, with a volume of 3,743 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FQVLF. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of First Quantum Minerals in a research report on Wednesday, April 15th. Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, May 4th. Finally, Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a research note on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The firm has a 50 day moving average of $25.34 and a two-hundred day moving average of $25.35. 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 stock has a market cap of $21.37 billion, a PE ratio of -102.48 and a beta of 1.26.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings data 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). First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%.The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Research analysts predict that First Quantum Minerals Ltd. will post 0.49 EPS for the current fiscal 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.