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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $28.7295, but opened at $27.5350. First Quantum Minerals shares last traded at $28.58, with a volume of 1,431 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, May 13th. TD Securities reissued a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Morgan Stanley upgraded First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research report on Monday, May 18th. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, May 4th. Finally, UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The stock has a market cap of $24.18 billion, a price-to-earnings ratio of -115.92 and a beta of 1.26. 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 stock’s 50-day moving average is $25.54 and its 200-day moving average is $25.81.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. Analysts anticipate that First Quantum Minerals Ltd. will post 0.41 EPS 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.