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First Quantum Minerals Ltd
Symbol FM
Shares Issued 691,036,704
Close 2021-10-12 C$ 26.10
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Globe says First Quantum kept at "sector outperform"

2021-10-13 09:10 ET - In the News

The Globe and Mail reports in its Wednesday, Oct. 13, edition that Scotia Capital analyst Orest Wowkodaw believes the risk-reward proposition for mining equities remains "extremely attractive." The Globe's David Leeder writes in the Eye On Equities column that Mr. Wowkodaw says in a note: "Although macroeconomic risks remain elevated, we anticipate a strong stimulus-driven recovery in ex China markets to more than compensate for decelerating Chinese growth, Delta concerns and higher interest rates. In the medium to long term, we anticipate the emergence of a new commodities super cycle driven by growing demand from global decarbonization efforts to address climate change amplified by the impact of severe underinvestment in new production capacity. Heightened LatAm geo-political risks are likely to compound the supply crisis. Among the base metals, we continue to prefer copper exposure. ... We believe the massive underinvestment by the capital-constrained mining sector is likely to continue." With his updated forecast, Mr. Wowkodaw lowered his share target for First Quantum Minerals to $35 from $40, while maintaining his recommendation at "sector outperform." Analysts on average target the shares at $32.83.

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