First Quantum Minerals (OTCMKTS:FQVLF) Shares Down 1% - Here's Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) shares dropped 1% on Friday . The company traded as low as $14.71 and last traded at $14.84. Approximately 251,356 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 198,720 shares. The stock had previously closed at $14.99.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 16th. Stifel Canada raised shares of First Quantum Minerals to a "hold" rating in a research report on Wednesday, March 19th. Barclays reiterated an "overweight" rating on shares of First Quantum Minerals in a report on Tuesday, May 6th. BMO Capital Markets raised First Quantum Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of First Quantum Minerals in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

First Quantum Minerals Stock Down 0.8%

The firm's 50 day simple moving average is $13.32 and its 200-day simple moving average is $13.38. The company has a current ratio of 2.08, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of -754.00 and a beta of 1.33.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.04 billion. First Quantum Minerals had a net margin of 0.04% and a negative return on equity of 0.15%. Equities analysts expect 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.