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

by · The Cerbat Gem

First Quantum Minerals Ltd. (OTCMKTS:FQVLF – Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $30.13, but opened at $28.50. First Quantum Minerals shares last traded at $30.16, with a volume of 5,733 shares traded.

Analyst Ratings Changes

Several brokerages have recently weighed in on FQVLF. Stifel Nicolaus raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. BMO Capital Markets reissued an “outperform” rating on shares of First Quantum Minerals in a research report on Wednesday, October 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Tuesday, December 16th. Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft cut First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Read Our Latest Report on FQVLF

First Quantum Minerals Price Performance

The firm has a fifty day moving average of $25.62 and a two-hundred day moving average of $21.57. The stock has a market capitalization of $25.62 billion, a P/E ratio of 614.32 and a beta of 1.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.94 and a quick ratio of 1.08.

First Quantum Minerals (OTCMKTS:FQVLF – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.47 billion. First Quantum Minerals had a return on equity of 0.29% and a net margin of 0.92%. On average, analysts predict that First Quantum Minerals Ltd. will post 0.03 EPS for the current year.

About First Quantum Minerals

(Get Free Report)

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.

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