First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down - Time to Sell?

Key Points

• First Quantum gapped down Monday, opening at $26.20 versus Friday's close of $27.46 and last trading at $27.11 on light volume (3,259 shares).
• Analyst sentiment is mildly positive with a consensus of "Moderate Buy" (3 Strong Buy, 7 Buy, 4 Hold) and a notable recent upgrade to Strong Buy from UBS.
• The company missed EPS (reported $0.01 vs. $0.06 expected) but beat revenue estimates ($1.48B vs. $1.33B); it carries a negative P/E (-685.75) and a market cap of $22.88B.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $27.46, but opened at $26.20. First Quantum Minerals shares last traded at $27.11, with a volume of 3,259 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group upgraded First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 12th. Raymond James Financial restated a "market perform" rating on shares of First Quantum Minerals in a research report on Wednesday, January 14th. Scotiabank restated an "outperform" rating on shares of First Quantum Minerals in a research report on Tuesday, February 24th. TD Securities restated a "hold" rating on shares of First Quantum Minerals in a research report on Thursday, February 12th. Finally, Morgan Stanley restated an "overweight" rating on shares of First Quantum Minerals in a research report on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

First Quantum Minerals Price Performance

The stock has a 50 day moving average of $25.88 and a two-hundred day moving average of $24.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.42. The firm has a market capitalization of $22.88 billion, a P/E ratio of -685.75 and a beta of 1.40.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). First Quantum Minerals had a negative net margin of 0.53% and a positive return on equity of 0.07%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.33 billion. Sell-side analysts predict that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current fiscal year.

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.

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.