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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $27.5375, but opened at $25.06. First Quantum Minerals shares last traded at $25.33, with a volume of 646 shares.

Analyst Ratings Changes

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

First Quantum Minerals Stock Performance

The stock’s 50 day moving average price is $27.81 and its 200 day moving average price is $27.23. The company has a current ratio of 1.42, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of -100.96 and a beta of 1.36.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share 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 firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. Analysts expect that First Quantum Minerals Ltd. will post 0.36 earnings per share for the current year.

First Quantum Minerals Company Profile

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.