First Quantum Minerals (OTCMKTS:FQVLF) Stock Rating Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded First Quantum Minerals from “hold” to “strong sell,” despite the broader analyst consensus remaining “Moderate Buy,” with several firms maintaining positive ratings.
• The company reported a quarterly EPS loss of $0.13, missing the consensus estimate of a $0.07 loss, although revenue of $1.52 billion exceeded expectations of $1.40 billion.
• Shares opened at $27.00, with a market capitalization of approximately $22.52 billion and a 52-week trading range of $19.17 to $35.48.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other equities research analysts have also recently issued reports about the company. Citigroup reiterated a "positive" rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Morgan Stanley reaffirmed an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of First Quantum Minerals in a report on Monday, June 15th. Barclays reiterated an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Finally, TD Securities raised shares of First Quantum Minerals from a "hold" rating to a "buy" rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, First Quantum Minerals presently has a consensus rating of "Moderate Buy".

First Quantum Minerals Price Performance

Shares of OTCMKTS FQVLF opened at $27.00 on Tuesday. The stock has a market cap of $22.52 billion, a PE ratio of -245.46 and a beta of 1.40. First Quantum Minerals has a fifty-two week low of $19.17 and a fifty-two week high of $35.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.90. The stock has a fifty day moving average of $31.30 and a 200-day moving average of $28.57.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last issued its quarterly earnings data 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). First Quantum Minerals had a negative return on equity of 2.29% and a negative net margin of 1.44%.The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.40 billion. Equities research analysts anticipate that First Quantum Minerals will post 0.28 earnings per share for the current year.

First Quantum Minerals Company Profile

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.

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