First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Time to Sell?

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF – Get Free Report) gapped down prior to trading on Thursday. The stock had previously closed at $31.85, but opened at $26.86. First Quantum Minerals shares last traded at $27.4860, with a volume of 4,068 shares.

Analyst Upgrades and Downgrades

FQVLF has been the topic of a number of research reports. Citigroup restated a “positive” rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Barclays reissued an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. TD Securities raised First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Buy”.

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First Quantum Minerals Stock Performance

The company has a market capitalization of $23.22 billion, a P/E ratio of -253.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.90 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $31.26 and its two-hundred day simple moving average is $28.41.

First Quantum Minerals (OTCMKTS:FQVLF – Get Free Report) last released its 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 return on equity of 2.29% and a negative net margin of 1.44%.The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.40 billion. As a group, research analysts expect that First Quantum Minerals Ltd. will post 0.32 earnings per share for the current year.

First Quantum Minerals Company Profile

(Get Free Report)

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.

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