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

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.47, but opened at $17.21. First Quantum Minerals shares last traded at $18.29, with a volume of 13,581 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on FQVLF. Desjardins assumed coverage on shares of First Quantum Minerals in a report on Friday, April 4th. They issued a "hold" rating on the stock. Stifel Canada raised shares of First Quantum Minerals to a "hold" rating in a research note on Wednesday, March 19th. BMO Capital Markets raised shares of First Quantum Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Canaccord Genuity Group raised shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 16th. Finally, Barclays reaffirmed an "overweight" rating on shares of First Quantum Minerals in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

First Quantum Minerals Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.87 and a quick ratio of 0.94. The firm's 50 day moving average is $15.22 and its 200 day moving average is $13.84. The firm has a market cap of $15.37 billion, a P/E ratio of 115.19 and a beta of 1.38.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. First Quantum Minerals had a net margin of 2.78% and a return on equity of 1.19%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.04 billion. As a group, 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., 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.