First Quantum Minerals (TSE:FM) Upgraded by Deutsche Bank Aktiengesellschaft to “Buy”

Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals (TSE:FM) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Deutsche Bank Aktiengesellschaft currently has C$26.00 price target on the stock, up from their prior price target of C$19.00.

A number of other research analysts have also recently issued reports on FM. Bank of America boosted their target price on First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. decreased their target price on First Quantum Minerals from C$18.00 to C$17.00 and set a neutral rating for the company in a research note on Monday, May 27th. National Bank Financial raised First Quantum Minerals from a sec perform spec market wgt rating to an outperform spec market weight rating in a research note on Thursday, February 29th. CIBC boosted their target price on First Quantum Minerals from C$15.00 to C$18.00 and gave the company a neutral rating in a research note on Thursday, June 20th. Finally, BMO Capital Markets cut First Quantum Minerals from an outperform rating to a market perform rating and boosted their target price for the company from C$17.00 to C$19.00 in a research note on Tuesday, May 21st. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of C$19.10.

First Quantum Minerals Stock Up 7.4 %

TSE FM opened at C$19.64 on Wednesday. The stock has a fifty day moving average of C$17.58 and a 200-day moving average of C$14.52. The stock has a market capitalization of C$16.37 billion, a P/E ratio of -8.50, a price-to-earnings-growth ratio of -1.28 and a beta of 1.96. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$39.13. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. The company had revenue of C$1.40 billion for the quarter, compared to analyst estimates 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 Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of the 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. 16.10% of the stock is currently owned by company insiders.

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.