First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Should You Sell?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped down prior to trading on Monday . The stock had previously closed at $31.39, but opened at $27.51. First Quantum Minerals shares last traded at $30.00, with a volume of 3,622 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on FQVLF. Morgan Stanley upgraded shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research report on Monday, May 18th. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Finally, Scotiabank reissued an “outperform” rating on shares of First Quantum Minerals in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company has a market cap of $24.74 billion, a price-to-earnings ratio of -118.64 and a beta of 1.33. 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 company’s 50 day moving average price is $28.00 and its 200-day moving average price is $26.98.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.22). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. On average, equities research analysts forecast that First Quantum Minerals Ltd. will post 0.35 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.