First Quantum Minerals (FM) Rating Lowered to Hold at Deutsche Bank

First Quantum Minerals (TSE:FM) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a report released on Friday, Stock Target Advisor reports. They currently have a C$21.00 price objective on the stock, down from their previous price objective of C$23.00. Deutsche Bank’s price target suggests a potential upside of 5.05% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Berenberg Bank dropped their price target on First Quantum Minerals from C$19.00 to C$18.00 in a research report on Wednesday, February 14th. Eight Capital boosted their target price on First Quantum Minerals from C$25.00 to C$26.00 in a research report on Tuesday, February 13th. Jefferies Group dropped their target price on First Quantum Minerals from C$27.00 to C$21.00 in a research report on Tuesday, March 27th. JPMorgan Chase & Co. dropped their target price on First Quantum Minerals from C$18.50 to C$17.50 in a research report on Tuesday, March 27th. Finally, Cormark boosted their target price on First Quantum Minerals from C$11.00 to C$14.00 in a research report on Friday, May 11th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of C$21.48.

Shares of FM opened at C$19.99 on Friday. First Quantum Minerals has a 12-month low of C$9.69 and a 12-month high of C$22.36.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Thursday, April 26th. The company reported C$0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.17 by C$0.15. The firm had revenue of C$1.12 billion during the quarter, compared to the consensus estimate of C$1.27 billion. First Quantum Minerals had a negative return on equity of 5.12% and a negative net margin of 10.51%.

About First Quantum Minerals

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates in seven mines and one copper smelter, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

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