First Quantum Minerals (TSE:FM) Cut to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of First Quantum Minerals (TSE:FM) from a buy rating to a hold rating in a report released on Wednesday morning,BayStreet.CA reports. Deutsche Bank Aktiengesellschaft currently has C$33.00 target price on the stock, down from their previous target price of C$35.00.

Other analysts also recently issued reports about the company. CIBC increased their price objective on First Quantum Minerals from C$26.00 to C$36.00 in a research note on Friday, October 10th. TD Securities raised their price objective on First Quantum Minerals from C$30.00 to C$35.00 in a research note on Tuesday, October 21st. Royal Bank Of Canada lifted their price objective on shares of First Quantum Minerals from C$28.00 to C$30.00 in a report on Wednesday, September 10th. Scotiabank increased their target price on shares of First Quantum Minerals from C$34.00 to C$35.00 in a report on Tuesday, October 28th. Finally, Citigroup raised their price target on shares of First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$33.75.

First Quantum Minerals Stock Performance

TSE FM opened at C$31.84 on Wednesday. The company has a fifty day simple moving average of C$30.21 and a 200 day simple moving average of C$25.50. First Quantum Minerals has a 12-month low of C$14.41 and a 12-month high of C$33.88. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The company has a market cap of C$26.56 billion, a P/E ratio of 530.67, a PEG ratio of -1.28 and a beta of 1.66.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share for the quarter. The business had revenue of C$1.87 billion during the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. Sell-side analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 10,000 shares of the stock in a transaction on Friday, October 31st. The shares were acquired at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the acquisition, the director directly owned 35,000 shares of the company’s stock, valued at C$1,017,100. The trade was a 40.00% increase in their position. Over the last quarter, insiders have acquired 10,474 shares of company stock worth $304,575. Insiders own 19.35% of the company’s stock.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.