BMO Capital analyst Matthew Murphy reinstated coverage of First Quantum Minerals (FQVLF) with an Outperform rating and C$23 price target The firm believes Cobre Panama has a 70% chance of ultimately returning to production, whereas it thinks the market seems to be pricing closer to 50% BMO sees outcomes for First Quantum as “disproportionately skewed to the upside.”
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Read More on FQVLF:
- First Quantum Minerals upgraded to Buy from Hold at Canaccord
- First Quantum Minerals price target lowered to C$19.40 at Morgan Stanley
- First Quantum Minerals price target lowered to C$21 from C$21.50 at Scotiabank
- First Quantum Minerals initiated with a Hold at Desjardins
- First Quantum Minerals price target raised to C$21 from C$20 at Raymond James
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