First Quantum Minerals (OTCMKTS:FQVLF) Announces Earnings Results

First Quantum Minerals (OTCMKTS:FQVLF) released its quarterly earnings data on Tuesday. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.08), Zacks reports. First Quantum Minerals had a negative return on equity of 1.21% and a negative net margin of 3.69%.

First Quantum Minerals Stock Down 2.8%

OTCMKTS:FQVLF traded down $0.77 during trading hours on Tuesday, hitting $26.50. 885,965 shares of the company traded hands, compared to its average volume of 337,283. 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 company has a market cap of $22.11 billion, a PE ratio of -106.00 and a beta of 1.36. The firm’s 50-day simple moving average is $28.34 and its 200-day simple moving average is $27.26. First Quantum Minerals has a one year low of $15.60 and a one year high of $33.33.

Wall Street Analyst Weigh In

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

About First Quantum Minerals

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.