First Quantum Minerals (OTCMKTS:FQVLF) Downgraded to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of First Quantum Minerals (OTCMKTS:FQVLF) from an overweight rating to an equal weight rating in a report issued on Monday morning, MarketBeat Ratings reports.

A number of other equities analysts have also issued reports on the stock. The Goldman Sachs Group started coverage on shares of First Quantum Minerals in a research report on Tuesday, May 21st. They set a buy rating on the stock. Citigroup raised shares of First Quantum Minerals from a neutral rating to a buy rating in a research report on Thursday, June 20th. Raymond James lifted their price target on shares of First Quantum Minerals from $13.00 to $16.00 and gave the stock a market perform rating in a research note on Wednesday, March 20th. Finally, BMO Capital Markets downgraded shares of First Quantum Minerals from an outperform rating to a market perform rating in a research note on Tuesday, May 21st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of Hold and a consensus price target of $32.50.

First Quantum Minerals Trading Up 2.2 %

Shares of FQVLF stock opened at $13.72 on Monday. First Quantum Minerals has a 1 year low of $6.92 and a 1 year high of $29.79. The firm’s fifty day simple moving average is $13.14 and its 200 day simple moving average is $11.20. The firm has a market capitalization of $11.44 billion, a P/E ratio of -8.07 and a beta of 1.57. The company has a current ratio of 2.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.49.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). First Quantum Minerals had a positive return on equity of 0.26% and a negative net margin of 20.02%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $931.34 million. As a group, sell-side analysts predict that First Quantum Minerals will post -0.11 EPS for the current 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.