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 research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage 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 price target indicates a potential upside of 34.23% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Raymond James boosted their price objective on First Quantum Minerals from C$19.00 to C$21.00 in a research note on Thursday, May 23rd. Stifel Nicolaus boosted their price objective on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Royal Bank of Canada raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$17.00 to C$18.00 in a research note on Monday, March 4th. 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. Finally, Bank of America upped their target price on First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$19.10.

First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock traded up C$1.08 during trading hours on Wednesday, hitting C$19.37. The company’s stock had a trading volume of 1,519,802 shares, compared to its average volume of 3,081,810. The business has a 50 day moving average price of C$17.48 and a two-hundred day moving average price of C$14.48. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$39.13. The company has a market cap of C$16.15 billion, a PE ratio of -8.42, a PEG ratio of -1.28 and a beta of 1.96. 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 posted its earnings results 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). The firm had revenue of C$1.40 billion during the quarter, compared to analysts’ expectations of C$1.25 billion. First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. Analysts expect that First Quantum Minerals will post 1.0067358 earnings per share for the current fiscal year.

Insider Transactions at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of the company’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 value of C$885,022.50. 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.