With the potential for slower growth in China, weaker iron ore prices and rising production costs, the Mining industry may consider bold actions in 2019, Deutsche Bank told investors in a research note. The firm's "left-field ideas" include Rio Tinto (RIO) possibly considering acquisitions of Anglo American (NGLOY), First Quantum Minerals (FQVLF) or Freeport McMoRan (FCX). Deutsche also thinks BHP Billiton (BHP) could further look to trim its portfolio with a spinoff that includes its Nickel West unit, oil and gas operations in Australia, and thermal coal in Colombia and Australia.

CIBC raised the firm's price target on First Quantum Minerals to C$15 from C$14 and keeps a Neutral rating on the shares.

JPMorgan raised the firm's price target on Freeport-McMoRan to $52 from $43 and keeps a Neutral rating on the shares as part of a Q1 earnings preview for the North America copper group. Copper's recent bullish shift has unfolded quicker than expected while coinciding with earlier than anticipated momentum building in global manufacturing PMIs, suggesting pricing may have outpaced fundamentals at this point, the analyst tells investors in a research note.

Backs FY24 Bauxite production view at 53-56 Mt, Aluminum production at 3.2-3.4Mt, Mined Copper production at 660-720kt.

Barclays raised the firm's price target on First Quantum Minerals to C$16 from C$13 and keeps an Equal Weight rating on the shares.