First Quantum Minerals (TSE:FM) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

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

Several other analysts have also issued reports on the company. Royal Bank Of Canada increased their price objective on First Quantum Minerals from C$28.00 to C$30.00 in a report on Wednesday, September 10th. Stifel Nicolaus raised First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$26.00 to C$38.00 in a research note on Tuesday, October 21st. Jefferies Financial Group lifted their price target on First Quantum Minerals from C$33.00 to C$38.00 in a report on Monday, October 6th. Scotiabank increased their price objective on First Quantum Minerals from C$34.00 to C$35.00 in a report on Tuesday, October 28th. Finally, Citigroup raised their price objective 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 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$33.75.

First Quantum Minerals Trading Up 1.3%

Shares of TSE FM opened at C$29.88 on Wednesday. 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 market cap of C$24.93 billion, a price-to-earnings ratio of 498.00, a P/E/G ratio of -1.28 and a beta of 1.66. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The business has a fifty day simple moving average of C$30.03 and a 200-day simple moving average of C$25.38.

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

Insider Transactions at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur purchased 10,000 shares of the stock in a transaction on Friday, October 31st. The shares were bought at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the acquisition, the director directly owned 35,000 shares in the company, valued at approximately C$1,017,100. This trade represents a 40.00% increase in their position. Insiders purchased a total of 10,474 shares of company stock worth $304,575 over the last three months. 19.35% of the stock is owned by corporate insiders.

First Quantum Minerals Company Profile

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.