First Quantum Minerals (OTCMKTS:FQVLF) Rating Lowered to Equal Weight at Morgan Stanley

First Quantum Minerals (OTCMKTS:FQVLF) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

A number of other equities research analysts have also issued reports on the stock. Raymond James increased their price objective on shares of First Quantum Minerals from $13.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, March 20th. Citigroup upgraded First Quantum Minerals from a “neutral” rating to a “buy” rating in a research report on Thursday, June 20th. BMO Capital Markets downgraded First Quantum Minerals from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group initiated coverage on First Quantum Minerals in a research report on Tuesday, May 21st. They set a “buy” rating for the company. Five 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.43.

First Quantum Minerals Trading Down 1.4 %

Shares of FQVLF opened at $13.08 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.68 and a quick ratio of 1.32. First Quantum Minerals has a 1 year low of $6.92 and a 1 year high of $29.79. The company has a 50 day simple moving average of $13.14 and a two-hundred day simple moving average of $11.13. The firm has a market cap of $10.90 billion, a P/E ratio of -7.69 and a beta of 1.57.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). First Quantum Minerals had a negative net margin of 20.02% and a positive return on equity of 0.26%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $931.34 million. On average, equities analysts expect that First Quantum Minerals will post -0.12 earnings per share for the current fiscal year.

First Quantum Minerals Company Profile

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.