First Quantum Minerals (OTCMKTS:FQVLF) Announces Quarterly Earnings Results

First Quantum Minerals (OTCMKTS:FQVLF) issued its quarterly earnings results on Tuesday. The basic materials company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06), Zacks reports. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.40 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%.

First Quantum Minerals Stock Down 2.8%

Shares of OTCMKTS FQVLF opened at $26.50 on Wednesday. The stock has a market capitalization of $22.11 billion, a P/E ratio of -106.00 and a beta of 1.36. First Quantum Minerals has a one year low of $15.60 and a one year high of $33.33. The firm’s 50 day simple moving average is $28.37 and its two-hundred day simple moving average is $27.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.86.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 14th. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 8th. Finally, Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Buy”.

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.