First Quantum Minerals (OTCMKTS:FQVLF) Releases Earnings Results, Beats Estimates By $0.02 EPS

First Quantum Minerals (OTCMKTS:FQVLF) issued its earnings results on Tuesday. The basic materials company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02, Zacks 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 $1.23 billion for the quarter, compared to analyst estimates of $1.04 billion.

First Quantum Minerals Trading Down 0.8 %

Shares of First Quantum Minerals stock opened at $12.10 on Friday. The stock has a fifty day simple moving average of $12.92 and a 200 day simple moving average of $11.43. First Quantum Minerals has a 12-month low of $6.92 and a 12-month high of $29.79. The company has a market capitalization of $10.09 billion, a P/E ratio of -7.12 and a beta of 1.57. The company has a current ratio of 2.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.49.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on First Quantum Minerals in a research report on Tuesday, May 21st. They set a “buy” rating on the stock. Morgan Stanley lowered First Quantum Minerals from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 8th. Citigroup raised First Quantum Minerals from a “neutral” rating to a “buy” rating in a research report on Thursday, June 20th. Finally, BMO Capital Markets downgraded First Quantum Minerals from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.50.

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.