First Quantum Mnrl (FM) Gets a Buy Rating from CIBC


Yesterday, an analyst has provided a rating update for the Materials sector company, First Quantum Mnrl (FM). Analyst Oscar Cabrera from CIBC reiterated a Buy rating, with a C$16 price target.

According to TipRanks.com, Cabrera is ranked 0 out of 5 stars with an average return of -13.5% and a 34.2% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Capstone Mining Corp, and Hudbay Minerals Inc.

Currently, the analyst consensus on First Quantum Mnrl is a Strong Buy with an average price target of C$16.38, which is a 28.9% upside from current levels. In a report issued on January 9, Deutsche Bank also reiterated a Buy rating on the stock with a C$15 price target.

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The company has a one-year high of C$23.05 and a one-year low of C$9.45. Currently, First Quantum Mnrl has an average volume of 3.34M.

First Quantum Minerals Ltd. engages in the production of copper, nickel, gold, zinc, and acid. It has operating mines in Zambia, Finland, Turkey, Spain, and Mauritania. It also develops Cobre Panama copper project in Panama, exploring the Haquira copper deposit in Peru, and the Taca Taca copper-gold-molybdenum deposit in Argentina.

The company’s shares closed on Monday at C$12.71.