First Quantum Minerals (OTCMKTS:FQVLF) Stock Price Down 6% - Here's What Happened

Key Points

• First Quantum Minerals' stock fell by 6% on Tuesday, trading at $22.43 after reaching a low of $22.22, with trading volume significantly down at 17,065 shares compared to the average of 209,049 shares.
• Analyst ratings are mixed, with Barclays maintaining an "overweight" rating, Citigroup issuing a "buy" rating, and Zacks Research upgrading the stock to "strong-buy," reflecting a consensus rating of "Moderate Buy."
• The company reported earnings of $0.02 per share for the last quarter, surpassing estimates, with a total revenue of $1.23 billion, exceeding expectations of $1.06 billion.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) shares were down 6% on Tuesday . The company traded as low as $22.22 and last traded at $22.43. Approximately 17,065 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 209,049 shares. The stock had previously closed at $23.87.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FQVLF. Barclays reaffirmed an "overweight" rating on shares of First Quantum Minerals in a research report on Monday, July 28th. Scotiabank reiterated a "sector perform" rating on shares of First Quantum Minerals in a research note on Tuesday, July 8th. Citigroup reissued a "buy" rating on shares of First Quantum Minerals in a research report on Wednesday, October 8th. Zacks Research raised shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Finally, Raymond James Financial reiterated a "market perform" rating on shares of First Quantum Minerals in a report on Friday. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, First Quantum Minerals has an average rating of "Moderate Buy".

First Quantum Minerals Stock Down 4.1%

The company has a market cap of $19.09 billion, a P/E ratio of 95.34 and a beta of 1.36. 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 company has a fifty day moving average of $19.08 and a 200 day moving average of $16.40.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.06 billion. On average, research analysts anticipate 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., 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.

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