The Globe and Mail reports in its Thursday, Nov. 27, edition that Deutsche Bank analyst Liam Fitzpatrick has lowered his recommendation for First Quantum Minerals to "hold" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Fitzpatrick gave his First Quantum share target a $2 trim to $33. Analysts on average target the shares at $35.23. Mr. Fitzpatrick believes that investors now face a more balanced risk-reward scenario after a rally that has pushed First Quantum Minerals shares up nearly 60 per cent in 2025. He highlights the ongoing uncertainty regarding the restart of the Cobre Panama mine, predicting that a phased restart could commence in the latter half of 2026. The Globe reported on July 10 and Aug. 14 that National Bank Financial analyst Shane Nagle continued to rate First Quantum "outperform." The shares could then be had for $23.58 and $23.64. The Globe reported on Sept. 30 that TD Cowen analyst Craig Hutchison continued to rate First Quantum "hold." It was then worth $31.56. The Globe reported on Oct. 15 that Scotia Capital analysts continued to rate First Quantum "sector perform." The shares could then be had for $32.97.