First Quantum Minerals (OTCMKTS:FQVLF) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• First Quantum Minerals reported quarterly EPS of negative $0.13, missing analysts’ consensus estimate of negative $0.05 by $0.08. The company also posted a negative 1.21% return on equity and a negative 3.69% net margin.
• The stock fell 2.8% to $26.50 on Tuesday, with trading volume significantly above its average. Shares remain within a 12-month range of $15.60 to $33.33.
• Despite the earnings miss, analyst sentiment remains positive: MarketBeat reports a consensus “Buy” rating, including Strong Buy, Buy and Hold recommendations from covering analysts.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) posted its earnings results on Tuesday. The basic materials company reported ($0.13) earnings per share (EPS) 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 Trading Down 2.8%

OTCMKTS FQVLF traded down $0.77 on Tuesday, reaching $26.50. The stock had a trading volume of 885,965 shares, compared to its average volume of 331,139. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of -106.00 and a beta of 1.36. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.44. First Quantum Minerals has a 12-month low of $15.60 and a 12-month high of $33.33. The stock has a fifty day moving average price of $28.34 and a two-hundred day moving average price of $27.26.

Analyst Ratings Changes

Several equities analysts have recently commented on FQVLF shares. Citigroup reaffirmed a "positive" rating on shares of First Quantum Minerals in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, June 3rd. Barclays restated an "overweight" rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Scotiabank reaffirmed an "outperform" rating on shares of First Quantum Minerals in a research report on Monday, June 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, First Quantum Minerals 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.

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