BMO Capital Markets on Thursday maintained its outperform rating on the shares of First Quantum Minerals (FM.TO) and its C$23.00 price target following the miner's first-quarter results.
"FM Q1 earnings were in line with BMO while cash burn was slightly higher than expected due to working capital movements. Overall production results were decent as Kansanshi beat our expectations while Sentinel missed. S3 is poised to ramp-up in H2/25. FM added more hedges and a $500M copper prepay. After discontinuing arbitration proceedings with Panama, FM is awaiting next steps from the Government of Panama, which has publicly communicated that it is studying options to restart the mine. The restart terms are the major market focus," analyst Matthew Murphy wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 18.23, Change: +1.57, Percent Change: +9.42
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.