The Globe and Mail reports in its Wednesday, Dec. 6, edition that RBC Dominion Securities analyst Sam Crittenden added a "speculative risk" qualifier to his "sector perform" recommendation for First Quantum Minerals. The Globe's David Leeder writes in the Eye On Equities column that Mr. Crittenden slashed his share target by $18 to $15. Analysts on average target the shares at $20.69. The Globe says Mr. Crittenden reduced his forecast for First Quantum to reflect the shutdown of Cobre Panama, removing production through the first half of 2024 "as uncertainty remains if and when the mine can resume production." Mr. Crittenden says in a note: "The lead up and outcome of the presidential election in Panama on May 5, 2024, could provide some clarity on the longer term prospects. Recent comments from presidential candidates range from a desire to negotiate better terms for Panama to the mine remaining closed. This takes our NAVPS [net asset value per share] estimate down to $16.49 from $30.38 (removing Cobre Panama completely would take our NAVPS to $7.25)." The analyst now thinks the company's balance sheet is "in focus." The Globe says Mr. Crittenden believes that a merger would help alleviate investor concerns.