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

Key Points

• First Quantum Minerals' shares gapped down from a closing price of $17.12 to $16.15 at market open, with trading volume reaching 872 shares.
• Analyst ratings for First Quantum indicate a consensus of "Moderate Buy," with five analysts recommending a hold, three a buy, and two a strong buy.
• The company reported quarterly earnings that exceeded expectations, with earnings per share of $0.02 and revenue of $1.23 billion, compared to a consensus estimate of $1.06 billion.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $17.12, but opened at $16.15. First Quantum Minerals shares last traded at $17.12, with a volume of 872 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on FQVLF. Barclays reiterated an "overweight" rating on shares of First Quantum Minerals in a research report on Monday, July 28th. TD Securities restated a "hold" rating on shares of First Quantum Minerals in a report on Friday, July 25th. Scotiabank restated a "sector perform" rating on shares of First Quantum Minerals in a report on Tuesday, July 8th. Raymond James Financial upgraded First Quantum Minerals to a "hold" rating in a report on Monday, June 30th. Finally, National Bankshares restated an "outperform" rating on shares of First Quantum Minerals in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals currently has an average rating of "Moderate Buy".

First Quantum Minerals Trading Down 2.4%

The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.48. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 68.88 and a beta of 1.38. The business has a 50 day moving average price of $16.94 and a 200-day moving average price of $14.71.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. First Quantum Minerals had a return on equity of 1.44% and a net margin of 4.08%.The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.06 billion. As a group, research analysts expect that First Quantum Minerals Ltd. will post 0.03 EPS for the current fiscal year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.