09:45:14 EST Wed 07 Dec 2022
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First Quantum Minerals Ltd
Symbol FM
Shares Issued 691,061,319
Close 2022-01-17 C$ 34.98
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Globe says BMO maintains First Quantum at "outperform"

2022-01-18 08:09 ET - In the News

The Globe and Mail reports in its Tuesday, Jan. 18, edition that BMO Capital Markets analyst Jackie Przybylowski is sticking with her "outperform" recommendation for First Quantum Minerals. The Globe's David Leeder writes in the Eye On Equities column that Ms. Przybylowski cut her share target to $33 from $35. Analysts on average target the shares at $35. Ms. Przybylowski says in a note: "Media reports overnight have reported that the government of Panama has issued an 'ultimatum' to First Quantum and is proposing significantly higher taxes and royalties on Cobre Panama. We continue to expect negotiations between the government and the company to be constructive and that a reasonable solution will be reached. And while we are not assuming the worst-case outcome for First Quantum, we have updated our estimates to reflect a higher NPI royalty and nearer-term cash tax payments." The Globe reported on Sept. 30 that RBC Dominion Securities rated First Quantum "outperform." The shares could then be had for $23.26. The Globe reported on Oct. 13 and Nov. 4 that Scotia Capital analyst Orest Wowkodaw rated First Quantum "sector outperform" and "sector perform." The shares could then be had for $26.10 and $27.87.

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