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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $24.75, but opened at $23.00. First Quantum Minerals shares last traded at $24.32, with a volume of 49,766 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FQVLF shares. Scotiabank reissued an “outperform” rating on shares of First Quantum Minerals in a research note on Tuesday, February 24th. Morgan Stanley restated an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. TD Securities reiterated a “hold” rating on shares of First Quantum Minerals in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft lowered First Quantum Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Finally, Raymond James Financial restated a “market perform” rating on shares of First Quantum Minerals in a research report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

First Quantum Minerals Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.94 and a quick ratio of 1.08. The firm has a market cap of $19.65 billion, a P/E ratio of -589.00 and a beta of 1.27. The stock’s 50-day simple moving average is $27.96 and its two-hundred day simple moving average is $23.98.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its earnings results on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). First Quantum Minerals had a negative net margin of 0.53% and a positive return on equity of 0.07%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Equities research 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. 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.