First Quantum Minerals (TSE:FM) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

First Quantum Minerals (TSE:FM) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a C$26.00 price target on the stock, up from their prior price target of C$19.00. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 34.23% from the stock’s current price.

A number of other brokerages have also weighed in on FM. Jefferies Financial Group decreased their target price on First Quantum Minerals from C$20.00 to C$19.50 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. decreased their target price on First Quantum Minerals from C$18.00 to C$17.00 and set a “neutral” rating on the stock in a research note on Monday, May 27th. Royal Bank of Canada upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$17.00 to C$18.00 in a research note on Monday, March 4th. Scotiabank upped their price objective on First Quantum Minerals from C$18.00 to C$19.00 and gave the stock a “sector perform” rating in a report on Thursday, May 30th. Finally, Canaccord Genuity Group cut their price objective on First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating for the company in a report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$19.10.

First Quantum Minerals Stock Performance

Shares of FM opened at C$19.37 on Wednesday. The firm has a market cap of C$16.15 billion, a PE ratio of -8.39, a PEG ratio of -1.28 and a beta of 1.96. The stock’s fifty day moving average price is C$17.64 and its two-hundred day moving average price is C$14.55. The company has a debt-to-equity ratio of 52.05, a current ratio of 2.68 and a quick ratio of 1.41. First Quantum Minerals has a 1 year low of C$9.31 and a 1 year high of C$39.13.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, April 23rd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The company had revenue of C$1.40 billion for the quarter, compared to the consensus estimate of C$1.25 billion. On average, equities research analysts forecast that First Quantum Minerals will post 1.0067358 EPS for the current year.

Insider Transactions at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. Corporate insiders own 16.10% of the company’s stock.

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.