First Quantum Minerals (OTCMKTS:FQVLF) Stock Rating Lowered by Zacks Research

First Quantum Minerals (OTCMKTS:FQVLF) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

Several other equities analysts have also commented on FQVLF. Citigroup reiterated a “positive” rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, July 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research report on Wednesday, July 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of First Quantum Minerals in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Stock Down 3.8%

Shares of OTCMKTS FQVLF opened at $27.00 on Tuesday. The stock has a market cap of $22.52 billion, a P/E ratio of -245.46 and a beta of 1.40. The company has a current ratio of 1.90, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. First Quantum Minerals has a 12-month low of $19.17 and a 12-month high of $35.48. The business’s fifty day simple moving average is $31.30 and its 200-day simple moving average is $28.57.

First Quantum Minerals (OTCMKTS:FQVLF) last issued its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.40 billion. First Quantum Minerals had a negative return on equity of 2.29% and a negative net margin of 1.44%. As a group, equities analysts predict that First Quantum Minerals will post 0.28 EPS for the current fiscal year.

About First Quantum Minerals

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.