First Quantum Minerals (OTCMKTS:FQVLF) Announces Earnings Results, Misses Estimates By $0.08 EPS

First Quantum Minerals (OTCMKTS:FQVLF) announced its earnings results on Tuesday. The basic materials company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.08), Zacks reports. 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%

OTCMKTS FQVLF traded down $0.77 during trading hours on Tuesday, hitting $26.50. 885,965 shares of the company were exchanged, compared to its average volume of 331,139. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44. The firm has a market cap of $22.11 billion, a price-to-earnings ratio of -106.00 and a beta of 1.36. The company has a 50 day moving average of $28.34 and a two-hundred day moving average of $27.26. First Quantum Minerals has a 52-week low of $15.60 and a 52-week high of $33.33.

Analyst Ratings Changes

FQVLF has been the topic of several research reports. TD Securities raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a report on Monday, June 15th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 8th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.