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

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

A number of other equities research analysts have also weighed in on the company. Bank of America lifted their price objective on First Quantum Minerals from C$16.00 to C$17.00 in a report on Tuesday, April 9th. Raymond James lifted their price objective on First Quantum Minerals from C$19.00 to C$21.00 in a report on Thursday, May 23rd. Morgan Stanley lifted their price objective on First Quantum Minerals from C$19.80 to C$20.30 in a report on Friday, June 21st. Eight Capital lifted their price objective on First Quantum Minerals from C$16.00 to C$17.00 and gave the company a neutral rating in a report on Monday, April 22nd. Finally, BMO Capital Markets lowered First Quantum Minerals from an outperform rating to a market perform rating and lifted their price objective for the company from C$17.00 to C$19.00 in a report on Tuesday, May 21st. Ten equities 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, the company currently has a consensus rating of Hold and a consensus price target of C$19.10.

First Quantum Minerals Price Performance

Shares of FM opened at C$17.97 on Wednesday. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$39.13. The company has a market capitalization of C$14.98 billion, a price-to-earnings ratio of -7.78, a price-to-earnings-growth ratio of -1.28 and a beta of 1.96. The firm has a 50-day simple moving average of C$17.68 and a 200-day simple moving average of C$14.64. 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 earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of C$1.40 billion for the quarter, compared to analyst estimates of C$1.25 billion. On average, equities research analysts anticipate that First Quantum Minerals will post 1.0067358 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals 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. Insiders own 16.10% of the company’s stock.

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.