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

First Quantum Minerals (TSE:FM) was downgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report released on Wednesday,BayStreet.CA reports. They presently have a C$33.00 target price on the stock, down from their prior target price of C$35.00. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 10.63% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. CIBC increased their price target on shares of First Quantum Minerals from C$26.00 to C$36.00 in a report on Friday, October 10th. Desjardins upped their price target on First Quantum Minerals from C$25.00 to C$26.00 and gave the company a “hold” rating in a report on Wednesday, August 20th. TD Securities boosted their target price on First Quantum Minerals from C$30.00 to C$35.00 in a research report on Tuesday, October 21st. National Bankshares lifted their target price on shares of First Quantum Minerals from C$32.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, Barclays boosted their target price on shares of First Quantum Minerals from C$27.30 to C$38.00 in a research report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$33.75.

First Quantum Minerals Stock Up 1.1%

Shares of First Quantum Minerals stock traded up C$0.33 during midday trading on Wednesday, hitting C$29.83. The company had a trading volume of 733,669 shares, compared to its average volume of 2,394,063. First Quantum Minerals has a 52-week low of C$14.41 and a 52-week high of C$33.88. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market capitalization of C$24.88 billion, a P/E ratio of 497.17, a P/E/G ratio of -1.28 and a beta of 1.66. The company has a 50 day moving average of C$29.96 and a 200 day moving average of C$25.35.

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

Insider Activity

In other news, Director Charles Kevin Mcarthur purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of C$29.06 per share, with a total value of C$290,600.00. Following the completion of the purchase, the director owned 35,000 shares in the company, valued at approximately C$1,017,100. This represents a 40.00% increase in their ownership of the stock. Insiders bought 10,474 shares of company stock valued at $304,575 over the last quarter. Insiders own 19.35% of the company’s stock.

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.