First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Time to Sell?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down prior to trading on Thursday . The stock had previously closed at $28.7295, but opened at $27.5350. First Quantum Minerals shares last traded at $28.58, with a volume of 1,431 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FQVLF shares. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research report on Thursday, February 12th. UBS Group raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of First Quantum Minerals in a research note on Wednesday, April 15th. Finally, Morgan Stanley raised shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a report on Monday, May 18th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The business has a 50 day simple moving average of $25.83 and a two-hundred day simple moving average of $25.91. The firm has a market capitalization of $25.70 billion, a P/E ratio of -123.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, sell-side analysts expect that First Quantum Minerals Ltd. will post 0.41 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.