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

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

A number of other equities research analysts also recently weighed in on FM. Jefferies Financial Group lowered their price objective on shares of First Quantum Minerals from C$20.00 to C$19.50 and set a “buy” rating for the company in a research report on Wednesday, April 24th. BMO Capital Markets lowered shares of 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. TD Securities boosted their target price on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Raymond James boosted their target price on shares of First Quantum Minerals from C$19.00 to C$21.00 in a research note on Thursday, May 23rd. Finally, Bank of America boosted their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$19.10.

First Quantum Minerals Stock Up 5.9 %

Shares of FM traded up C$1.08 during midday trading on Wednesday, hitting C$19.37. The company had a trading volume of 1,519,802 shares, compared to its average volume of 3,081,810. The company’s 50 day moving average price is C$17.48 and its 200 day moving average price is C$14.48. The stock has a market cap of C$16.15 billion, a price-to-earnings ratio of -8.42, a PEG 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 quick ratio of 1.41, a current ratio of 2.68 and a debt-to-equity ratio of 52.05.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported C($0.27) earnings per share 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 business 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 predict that First Quantum Minerals will post 1.0067358 EPS for the current year.

Insider Activity

In other news, Senior Officer Zenon Wozniak sold 49,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total transaction of C$885,022.50. 16.10% of the stock is owned by company insiders.

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.