First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $31.95, but opened at $30.7250. First Quantum Minerals shares last traded at $31.9250, with a volume of 6,719 shares traded.

Analysts Set New Price Targets

FQVLF has been the subject of several research analyst reports. TD Securities raised First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 14th. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Citigroup reissued a “positive” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 3rd. Finally, Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, First Quantum Minerals has an average rating of “Buy”.

First Quantum Minerals Trading Up 2.1%

The stock has a 50 day moving average of $28.69 and a 200 day moving average of $27.35. 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 firm has a market cap of $27.20 billion, a P/E ratio of -296.45 and a beta of 1.36.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). First Quantum Minerals had a negative return on equity of 2.28% and a negative net margin of 1.44%.The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.40 billion. As a group, equities research analysts predict that First Quantum Minerals Ltd. will post 0.29 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.