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First Quantum Minerals Ltd
Symbol FM
Shares Issued 691,770,514
Close 2022-07-07 C$ 26.71
Recent Sedar Documents

Globe says First Quantum Mineral kept at "outperform"

2022-07-07 07:51 ET - In the News

The Globe and Mail reports in its Thursday, July 7, edition that with a "deteriorating price environment," National Bank Financial analysts Shane Nagle and Rabi Nizami updated their price assumptions for base metals through 2023 on Wednesday. The Globe's David Leeder writes in the Eye On Equities column that the analysts say in a note: "While we had previously anticipated some price volatility throughout 2022 given China's zero-COVID policies, Russia's ongoing invasion of Ukraine, global supply chain issues, rising inflationary pressures and pending supply growth within the copper market, recent global recessionary fears have made the market relatively near-sighted and unable to price in favorable long-term fundamentals. ... Beyond an anticipated market surplus in copper throughout 2023/2024, we anticipate a growing structural deficit to take hold beginning in 2025. This deficit is partially driven by stable long-term demand due to broader 'Green Energy' initiatives, increased spending on electrification and EV adoption." Accordingly, the analysts trimmed their share target for First Quantum Minerals to $35 from $46, while maintaining an "outperform" ranking. Analysts on average target the shares at $42.75.

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