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Deutsche Bank Thinks First Quantum Mnrl’s Stock is Going to Recover


Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Deutsche Bank’s analyst Chris Terry reiterates their Buy rating on the shares of First Quantum Mnrl (TSX: FM), with a C$19 price target.

According to TipRanks.com, Terry is a 2-star analyst with an average return of 1.0% and a 20.0% success rate. Terry covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Teck Resources Limited.

First Quantum Mnrl has an analyst consensus of Moderate Buy, with a price target consensus of C$21.50, which is a 45.9% upside from current levels. In a report issued on September 28, TD Securities also reiterated a Buy rating on the stock with a C$28 price target.

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First Quantum Mnrl’s market cap is currently C$10.08B and has a P/E ratio of 419.9. The company has a Price to Book ratio of 0.83.

First Quantum Minerals Ltd. engages in the production of copper, nickel, gold, zinc, and acid. It has operating mines in Zambia, Finland, Turkey, Spain, and Mauritania. It also develops Cobre Panama copper project in Panama, exploring the Haquira copper deposit in Peru, and the Taca Taca copper-gold-molybdenum deposit in Argentina.

The company’s shares closed on Tuesday at C$14.74, close to its 52-week low of C$13.63.