First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Should You Sell?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares gapped down prior to trading on Monday . The stock had previously closed at $27.46, but opened at $26.20. First Quantum Minerals shares last traded at $27.11, with a volume of 3,259 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FQVLF shares. Scotiabank reaffirmed an “outperform” rating on shares of First Quantum Minerals in a report on Tuesday, February 24th. UBS Group raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Morgan Stanley reissued an “overweight” rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. TD Securities restated a “hold” rating on shares of First Quantum Minerals in a research note on Thursday, February 12th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of First Quantum Minerals in a research report on Wednesday, January 14th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Moderate Buy”.

First Quantum Minerals Price Performance

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 company has a market capitalization of $23.41 billion, a PE ratio of -701.50 and a beta of 1.40. The company’s 50-day simple moving average is $25.83 and its 200-day simple moving average is $24.94.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its earnings results on Tuesday, February 10th. The basic materials company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.33 billion. As a group, sell-side analysts anticipate that First Quantum Minerals Ltd. will post 0.03 earnings per share 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.