First Quantum Minerals (OTCMKTS:FQVLF) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of First Quantum Minerals (OTCMKTS:FQVLF) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks reports.

A number of other equities analysts have also recently commented on the company. Barclays reissued an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. TD Securities raised First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 14th. Citigroup reissued a “positive” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Finally, Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Down 1.3%

FQVLF stock opened at $26.65 on Tuesday. The stock has a market capitalization of $22.23 billion, a P/E ratio of -242.27 and a beta of 1.40. The firm has a 50-day simple moving average of $31.28 and a 200-day simple moving average of $28.61. The company has a quick ratio of 1.03, a current ratio of 1.90 and a debt-to-equity ratio of 0.50. First Quantum Minerals has a 52 week low of $19.17 and a 52 week high of $35.48.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 2.29%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Equities analysts forecast that First Quantum Minerals will post 0.28 earnings per share for the current fiscal year.

About First Quantum Minerals

First Quantum Minerals Ltd. is a Canadian mining and metals company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, nickel and zinc as part of its mining activities and sells concentrates and other mineral products to customers in international markets.

First Quantum’s principal operations have included the Kansanshi and Sentinel copper mines in Zambia, the Ravensthorpe nickel operation in Western Australia and the Cobre Panama copper mine in Panama.