First Quantum Minerals (OTCMKTS:FQVLF) Trading Down 9.9% – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares traded down 9.9% during trading on Tuesday . The company traded as low as $27.57 and last traded at $27.57. Approximately 2,334 shares changed hands during trading, a decline of 99% from the average daily volume of 364,564 shares. The stock had previously closed at $30.6101.

Analysts Set New Price Targets

FQVLF has been the topic of a number of recent analyst reports. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. Morgan Stanley raised First Quantum Minerals from an “overweight” rating to an “overweight” rating in a report on Monday, May 18th. UBS Group upgraded First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Finally, Scotiabank reissued an “outperform” rating on shares of First Quantum Minerals in a research note on Monday, June 15th. Two research 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company’s fifty day moving average is $28.05 and its two-hundred day moving average is $27.02. 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 capitalization of $22.93 billion, a price-to-earnings ratio of -109.95 and a beta of 1.33.

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). First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%.The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. Equities research analysts anticipate 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.