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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $31.95, but opened at $30.7250. First Quantum Minerals shares last traded at $31.9250, with a volume of 6,719 shares traded.

Analyst Ratings Changes

A number of research firms have issued reports on FQVLF. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 3rd. TD Securities upgraded First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

First Quantum Minerals Trading Up 3.6%

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’s fifty day moving average is $28.82 and its two-hundred day moving average is $27.43. The firm has a market cap of $28.82 billion, a P/E ratio of -314.09 and a beta of 1.36.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.40 billion. First Quantum Minerals had a negative return on equity of 2.28% and a negative net margin of 1.44%. Analysts predict that First Quantum Minerals Ltd. will post 0.29 earnings per share for the current fiscal 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.