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

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down prior to trading on Wednesday . The stock had previously closed at $28.83, but opened at $27.57. First Quantum Minerals shares last traded at $27.81, with a volume of 2,016 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on FQVLF. TD Securities reissued a “hold” rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Scotiabank reissued an “outperform” rating on shares of First Quantum Minerals in a report on Tuesday, February 24th. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Raymond James Financial reissued a “market perform” rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of First Quantum Minerals in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, First Quantum Minerals currently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Up 3.4%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42. The stock has a market capitalization of $23.17 billion, a P/E ratio of -694.25 and a beta of 1.40. The stock’s fifty day simple moving average is $25.90 and its two-hundred day simple moving average is $25.13.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its earnings results on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). First Quantum Minerals had a positive return on equity of 0.07% and a negative net margin of 0.53%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.33 billion. As a group, research analysts expect that First Quantum Minerals Ltd. will post 0.82 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.