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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $31.39, but opened at $27.51. First Quantum Minerals shares last traded at $30.00, with a volume of 3,622 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FQVLF shares. Scotiabank restated an “outperform” rating on shares of First Quantum Minerals in a research note on Monday, June 15th. Morgan Stanley upgraded shares of First Quantum Minerals from an “overweight” rating to an “overweight” rating in a research note on Monday, May 18th. Barclays restated an “overweight” rating on shares of First Quantum Minerals in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, June 3rd. Finally, UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

First Quantum Minerals Trading Down 7.4%

The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of -109.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42. The firm has a fifty day moving average price of $28.05 and a 200-day moving average price of $27.05.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, equities analysts anticipate that First Quantum Minerals Ltd. will post 0.35 EPS for the current year.

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.