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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped down before the market opened on Tuesday . The stock had previously closed at $23.85, but opened at $22.26. First Quantum Minerals shares last traded at $23.2225, with a volume of 1,634 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports 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 restated a “market perform” rating on shares of First Quantum Minerals in a research report on Wednesday, January 14th. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday. Finally, TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The business’s 50-day simple moving average is $25.78 and its two-hundred day simple moving average is $25.27. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of -92.46 and a beta of 1.26. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44.

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 analysts’ consensus estimates of $0.04 by ($0.22). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%. As a group, sell-side analysts expect that First Quantum Minerals Ltd. will post 0.59 earnings per share 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.