First Quantum Minerals (OTCMKTS:FQVLF) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $13.44 and traded as low as $13.25. First Quantum Minerals shares last traded at $13.81, with a volume of 241,214 shares traded.

Analyst Upgrades and Downgrades

FQVLF has been the subject of several recent research reports. Canaccord Genuity Group downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Desjardins assumed coverage on shares of First Quantum Minerals in a research note on Friday. They set a “hold” rating for the company. Finally, Stifel Canada raised First Quantum Minerals to a “hold” rating in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, First Quantum Minerals presently has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Performance

The company has a market capitalization of $9.35 billion, a PE ratio of -560.50 and a beta of 1.32. The stock’s fifty day simple moving average is $13.39 and its 200-day simple moving average is $13.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 2.08.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings data on Tuesday, February 11th. The basic materials company reported $0.04 earnings per share (EPS) 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%. As a group, equities analysts predict that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current 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.