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First Quantum Minerals Ltd
Symbol FM
Shares Issued 691,782,591
Close 2022-04-28 C$ 37.35
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Globe says TD's Barnes keeps First Quantum at "buy"

2022-04-28 07:39 ET - In the News

The Globe and Mail reports in its Thursday, April 28, edition that TD Securities analyst Greg Barnes has reaffirmed his "buy" recommendation for First Quantum Minerals. The Globe's David Leeder writes in the Eye On Equities column that Mr. Barnes cut his share target by $2 to $50. Analysts on average target the shares at $43.35. Mr. Barnes says in a note: "By lowering guidance early in the year, we believe that First Quantum has acted proactively to reflect higher costs and the build-up of COVID-19-related impacts on mine plans. We believe that the revised guidance is achievable and has likely derisked the rest of the year with respect to the outlook for costs and production." The Globe reported on Jan. 20 and Feb. 18 that RBC Dominion Securities analyst Sam Crittenden had reaffirmed First Quantum at "outperform." It was then worth $35.44 and $34.76. The Globe reported on April 20 that Canaccord Genuity analyst Dalton Baretto lowered his recommendation for First Quantum to "hold" from "buy." The shares could then be had for $42.15.

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