First Quantum Minerals (OTCMKTS:FQVLF) Stock Price Passes Below 50 Day Moving Average – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $13.10 and traded as low as $11.77. First Quantum Minerals shares last traded at $12.89, with a volume of 78,297 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FQVLF. Barclays raised First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group downgraded First Quantum Minerals from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.00.

First Quantum Minerals Trading Up 10.4 %

The stock has a market cap of $10.75 billion, a P/E ratio of -644.50 and a beta of 1.49. The company has a current ratio of 2.08, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $13.10 and a two-hundred day moving average price of $13.08.

First Quantum Minerals (OTCMKTS:FQVLF) last released its earnings results on Tuesday, February 11th. The basic materials company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). First Quantum Minerals had a net margin of 0.04% and a negative return on equity of 0.15%. On average, research analysts expect that First Quantum Minerals Ltd. will post 0.03 EPS 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.