First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down - Here's Why

Key Points

• Price action: Shares gapped down at the open from $23.85 to $22.26 and were last trading around $23.22 on very light volume (1,634 shares).
• Analyst view: Coverage is mixed but leans positive—two Strong Buy, seven Buy and four Hold ratings, giving an average rating of "Moderate Buy."
• Earnings miss: Q1 EPS was $(0.18) versus $0.04 expected while revenue beat at $1.40B; the company reported a negative net margin and negative return on equity.

Shares of First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $23.85, but opened at $22.26. First Quantum Minerals shares last traded at $23.2225, with a volume of 1,634 shares trading hands.

Wall Street Analysts Forecast Growth

FQVLF has been the topic of several research reports. TD Securities reissued a "hold" rating on shares of First Quantum Minerals in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of First Quantum Minerals in a report on Wednesday, April 15th. Raymond James Financial reissued a "market perform" rating on shares of First Quantum Minerals in a report on Wednesday, January 14th. Scotiabank restated an "outperform" rating on shares of First Quantum Minerals in a research note on Tuesday, February 24th. Finally, Barclays restated an "overweight" rating on shares of First Quantum Minerals in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

First Quantum Minerals Stock Up 1.4%

The stock has a market capitalization of $19.28 billion, a PE ratio of -92.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.86. The business's fifty day moving average price is $25.78 and its two-hundred day moving average price is $25.27.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.22). The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. On average, equities research analysts forecast that First Quantum Minerals Ltd. will post 0.59 EPS for the current fiscal year.

First Quantum Minerals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.