Scotiabank upgraded First Quantum Minerals (FQVLF) to Outperform from Sector Perform with a price target of C$45, up from C$44. The firm cites increased confidence of a near-term Cobre Panama resolution and restart for the upgrade.
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Read More on FQVLF:
- First Quantum upsizes $1.5bn note issue to refinance costlier debt
- First Quantum Minerals price target raised to C$47 from C$38 at Stifel
- First Quantum Minerals to Raise US$1.35 Billion in Senior Notes to Refinance High-Cost Debt
- First Quantum Minerals announces senior notes offering
- First Quantum lifts balance-sheet flexibility as Kansanshi S3 ramps up and Panama allows ore processing