Stifel upgraded First Quantum Minerals (FQVLF) to Buy from Hold with a price target of C$38, up from C$26. Q3 results are expected to be favorably impacted by the sale of copper concentrate stored at Cobre Panama, while FY25 production guidance is expected to be driven by ramp-up of Kansanshi S3 and grade improvement at Sentinel, the analyst tells investors.
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