The Globe and Mail reports in its Thursday, July 27, edition that First Quantum Minerals posted earnings that missed expectations, but some analysts have nevertheless raised their price targets on the copper miner. The Globe's Darcy Keith writes in the Eye On Equities column that CIBC raised its target price to $34 from $29 and Jefferies raised its target price to $45 from $38. CIBC Capital Markets analyst Bryce Adams linked his higher price target to the fact that First Quantum left its guidance unchanged, which came as a pleasant surprise. Mr. Adams continues to rate First Quantum "neutral." Mr. Adams says in a note: "In our earnings preview note we flagged potential for a guidance revision with Q2/23 results; going into the quarter we modelled full-year production of 738kt copper compared to the company's guidance of 770-840kt. Instead, First Quantum reported Q2/23 production of 187kt, 9 per cent ahead of our Q2 estimate, and reiterated full-year guidance with management guiding to the low end of production ranges and the high end of cost ranges. We expect that the production and guidance update will more than offset an earnings miss, resulting in a slight positive market reaction."