First Quantum to Sell Spain’s Cobre Las Cruces Mine for Up to $190 Million

First Quantum Minerals ( (TSE:FM) ) has issued an update.

First Quantum Minerals has agreed to sell its wholly owned Cobre Las Cruces mine in Spain to Global Panduro, a vehicle controlled by Resource Capital Funds, for consideration of up to $190 million plus a profitability-linked earn-out. The deal structure includes $45 million in cash on closing, a loan note of about $65 million, up to $80 million in deferred milestone payments tied to development of the polymetallic primary sulphide project at the site, and an additional contingent earn-out based on future exit and liquidity events, with closing targeted for the first half of 2026. The transaction marks First Quantum’s exit from the Las Cruces operation, which previously produced copper cathodes and was slated for redevelopment into an underground polymetallic mine, and shifts the project’s future development to Resource Capital Funds, a specialist mining private equity investor, potentially enhancing capital and execution resources for advancing the asset while giving First Quantum financial flexibility and exposure to future upside through deferred and contingent payments.

The most recent analyst rating on (TSE:FM) stock is a Hold with a C$33.50 price target. To see the full list of analyst forecasts on First Quantum Minerals stock, see the TSE:FM Stock Forecast page.

Spark’s Take on TSE:FM Stock

According to Spark, TipRanks’ AI Analyst, TSE:FM is a Outperform.

First Quantum Minerals’ stock is supported by strong technical momentum and robust financial performance, particularly in cash flow generation. However, high valuation metrics and operational challenges in Panama and Sentinel present risks. The positive earnings call sentiment and production achievements contribute to a favorable outlook, but the high P/E ratio suggests caution.

To see Spark’s full report on TSE:FM stock, click here.

More about First Quantum Minerals

First Quantum Minerals Ltd. is a Toronto-listed global mining company focused primarily on the production of copper, with additional exposure to other base and precious metals. The company operates and develops mining assets across multiple jurisdictions and has been active in both open-pit and underground projects, as well as associated processing and refining facilities.

Average Trading Volume: 2,140,071

Technical Sentiment Signal: Buy

Current Market Cap: C$30.11B

For detailed information about FM stock, go to TipRanks’ Stock Analysis page.