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

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down prior to trading on Monday . The stock had previously closed at $20.32, but opened at $19.52. First Quantum Minerals shares last traded at $20.58, with a volume of 5,924 shares.

Analysts Set New Price Targets

FQVLF has been the topic of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of First Quantum Minerals in a research report on Wednesday, October 29th. National Bankshares reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Wednesday, August 13th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research report on Monday, September 29th. Zacks Research downgraded First Quantum Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Stifel Canada raised shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, First Quantum Minerals has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.00. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 415.48 and a beta of 1.47. The firm’s 50 day simple moving average is $21.39 and its 200 day simple moving average is $18.21.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings data on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). First Quantum Minerals had a net margin of 0.92% and a return on equity of 0.29%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Sell-side analysts forecast that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.