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

First Quantum Minerals (TSE:FM) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a C$50.00 price objective on the stock, up from their prior price objective of C$40.00. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 9.77% from the company’s current price.

Several other equities analysts also recently commented on the stock. Morgan Stanley raised shares of First Quantum Minerals from an “equal” rating to an “overweight” rating and boosted their target price for the stock from C$37.70 to C$42.20 in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce boosted their target price on shares of First Quantum Minerals from C$36.00 to C$46.00 in a report on Wednesday, February 4th. Scotia cut their price target on First Quantum Minerals from C$47.00 to C$44.00 and set a “sector outperform” rating for the company in a report on Thursday, April 30th. Canaccord Genuity Group cut their price target on First Quantum Minerals from C$48.00 to C$46.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, Barclays cut their price target on First Quantum Minerals from C$44.60 to C$42.20 in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$43.86.

First Quantum Minerals Price Performance

FM stock traded down C$0.58 during midday trading on Wednesday, hitting C$45.55. The company’s stock had a trading volume of 1,778,671 shares, compared to its average volume of 3,088,110. First Quantum Minerals has a 12 month low of C$20.46 and a 12 month high of C$46.31. The company has a 50 day moving average of C$35.88 and a two-hundred day moving average of C$35.82. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 54.67. The firm has a market capitalization of C$37.72 billion, a price-to-earnings ratio of -189.79, a price-to-earnings-growth ratio of -1.28 and a beta of 1.49.

First Quantum Minerals (TSE:FM) last released its earnings results on Wednesday, April 29th. The company reported C($0.25) EPS for the quarter. First Quantum Minerals had a negative return on equity of 1.78% and a negative net margin of 3.69%.The company had revenue of C$1.95 billion during the quarter. On average, analysts expect that First Quantum Minerals will post 0.55872 EPS for the current year.

First Quantum Minerals Company Profile

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.