Barclays upgraded First Quantum Minerals (FQVLF) to Overweight from Equal Weight with a price target of C$25, up from C$18. The firm says higher copper prices are needed to incentive supply. Materially higher copper prices – potentially well in excess of $5/lb – are required for a considerable period to incentivize boards to approve the next generation of brownfield copper expansions in traditional base, the analyst tells investors in a research note.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FQVLF:
- First Quantum Minerals price target raised to C$23 from C$22 at RBC Capital
- First Quantum Minerals Reports Strong Q3 2024 Results
- FQVLF Upcoming Earnings Report: What to Expect?
- First Quantum Minerals price target lowered to C$17 from C$18 at Barclays
- First Quantum Minerals price target raised to C$27 from C$23.50 at Canaccord