First Quantum Minerals (OTCMKTS:FQVLF) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of First Quantum Minerals (OTCMKTS:FQVLF) from an overweight rating to an equal weight rating in a research report released on Monday morning, Marketbeat reports.

Other equities research analysts have also issued reports about the company. Citigroup upgraded First Quantum Minerals from a neutral rating to a buy rating in a research report on Thursday, June 20th. 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. BMO Capital Markets lowered First Quantum Minerals from an outperform rating to a market perform rating in a research report on Tuesday, May 21st. Finally, Raymond James increased their price target on First Quantum Minerals from $13.00 to $16.00 and gave the stock a market perform rating in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Quantum Minerals has an average rating of Hold and a consensus target price of $32.50.

First Quantum Minerals Stock Up 2.7 %

OTCMKTS FQVLF opened at $13.43 on Monday. The company has a current ratio of 2.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $13.14 and its two-hundred day moving average is $11.16. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of -7.90 and a beta of 1.57. First Quantum Minerals has a 1-year low of $6.92 and a 1-year high of $29.79.

First Quantum Minerals (OTCMKTS:FQVLF) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $931.34 million. First Quantum Minerals had a positive return on equity of 0.26% and a negative net margin of 20.02%. Equities analysts forecast that First Quantum Minerals will post -0.11 earnings per share for the current fiscal year.

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.