First Quantum Minerals (OTCMKTS:FQVLF) Stock Price Down 21% - Should You Sell?

Key Points

• First Quantum Minerals shares fell 21%, dropping from $31.85 to as low as $20.17 before last trading at $25.16. Trading volume was about 84% below the stock’s average daily volume.
• Despite the selloff, analysts remain broadly positive: the stock has a consensus “Buy” rating, including two Strong Buy and seven Buy ratings.
• The company’s latest quarter was mixed, with revenue of $1.52 billion exceeding estimates but adjusted EPS of negative $0.13 missing expectations of negative $0.07. First Quantum reported negative net margin and return on equity.

First Quantum Minerals Ltd. (OTCMKTS:FQVLF - Get Free Report)'s share price was down 21% during trading on Wednesday. The company traded as low as $20.17 and last traded at $25.16. Approximately 44,844 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 283,580 shares. The stock had previously closed at $31.85.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley reissued an "overweight" rating on shares of First Quantum Minerals in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, June 3rd. Scotiabank reaffirmed 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. Finally, Citigroup restated a "positive" rating on shares of First Quantum Minerals in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

First Quantum Minerals Stock Performance

The company has a market cap of $23.15 billion, a PE ratio of -252.27 and a beta of 1.40. The stock's 50 day simple moving average is $31.28 and its two-hundred day simple moving average is $28.40. The company has a quick ratio of 1.03, a current ratio of 1.90 and a debt-to-equity ratio of 0.50.

First Quantum Minerals (OTCMKTS:FQVLF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $1.52 billion for 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, research analysts anticipate that First Quantum Minerals Ltd. will post 0.32 earnings per share 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 operation of copper mines. The company also produces gold, nickel and zinc as part of its mining activities and sells concentrates and other mineral products to customers in international markets.

First Quantum's principal operations have included the Kansanshi and Sentinel copper mines in Zambia, the Ravensthorpe nickel operation in Western Australia and the Cobre Panama copper mine in Panama.

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