First Quantum Minerals (OTCMKTS:FQVLF) Shares Down 6.2% - Here's What Happened

Key Points

• First Quantum Minerals shares fell 6.2% to $31.42, with trading volume down 99% from the average session volume.
• Analysts remain broadly bullish, with the stock carrying an average “Buy” rating, including Strong Buy, Buy and Hold recommendations.
• The company reported a quarterly EPS loss of $0.13, missing estimates by $0.06, although revenue of $1.52 billion exceeded analyst expectations of $1.40 billion.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report) traded down 6.2% during trading on Thursday . The company traded as low as $31.33 and last traded at $31.42. 4,112 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 301,104 shares. The stock had previously closed at $33.5090.

Analyst Upgrades and Downgrades

FQVLF has been the subject of a number of research reports. Scotiabank restated an "outperform" rating on shares of First Quantum Minerals in a report on Monday, June 15th. Barclays reiterated an "overweight" rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Morgan Stanley reissued an "overweight" rating on shares of First Quantum Minerals in a research note on Wednesday, July 8th. Citigroup restated a "positive" rating on shares of First Quantum Minerals in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy".

First Quantum Minerals Trading Down 6.7%

The company has a current ratio of 1.90, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The firm has a market cap of $26.09 billion, a PE ratio of -284.36 and a beta of 1.40. The company's 50-day moving average is $30.03 and its 200 day moving average is $27.98.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last released its earnings results on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.40 billion. First Quantum Minerals had a negative net margin of 1.44% and a negative return on equity of 2.29%. As a group, sell-side analysts predict that First Quantum Minerals Ltd. will post 0.27 EPS for the current year.

About First Quantum Minerals

First Quantum Minerals Ltd. is a Canadian mining and metals company focused primarily on the exploration, development and production of copper. The company also produces other byproducts, including gold, silver and nickel, depending on the characteristics of its mining operations.

First Quantum's principal operating assets have included the Kansanshi and Sentinel copper mines in Zambia, along with the Cobre Panama copper mine in Panama. Cobre Panama has been subject to a government-ordered suspension since late 2023, while the company continues to focus on its operating assets, development projects and broader portfolio in jurisdictions including Africa, Australia and the Americas.

Founded in 1996 and headquartered in Vancouver, British Columbia, First Quantum has grown through the development and acquisition of large-scale international mining projects.

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