First Quantum Minerals (OTCMKTS:FQVLF) Announces Earnings Results

First Quantum Minerals (OTCMKTS:FQVLF) announced its earnings results on Tuesday. The basic materials company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.02 by $0.12, Yahoo Finance reports. First Quantum Minerals had a negative return on equity of 0.57% and a negative net margin of 24.07%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.09 billion.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at $13.30 on Thursday. The business’s 50-day simple moving average is $12.70 and its 200 day simple moving average is $12.62. The company has a quick ratio of 1.32, a current ratio of 2.68 and a debt-to-equity ratio of 0.49. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of -7.82 and a beta of 1.50. First Quantum Minerals has a 12-month low of $6.92 and a 12-month high of $22.22.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut shares of First Quantum Minerals from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.00.

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.