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    FM   CA3359341052

FIRST QUANTUM MINERALS LTD.

(FM)
  Report
Delayed Toronto Stock Exchange  -  09:56:25 2023-03-28 am EDT
29.15 CAD   +0.71%
06:02aFirst Quantum Provides Notice of First Quarter 2023 Results
GL
06:01aFirst Quantum Provides Notice of First Quarter 2023 Results
AQ
06:01aFirst Quantum Provides Notice of Annual General Meeting of Shareholders and Filing of Annual Disclosure Documents
GL
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TSX tracks Wall Street higher as oil prices jump

02/07/2023 | 05:11pm EDT

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TSX ends up 96.08 points, or 0.5%, at 20,725.00

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Energy rises 2.8%; oil settles 4.1% higher

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Lithium Americas climbs 9.9%

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First Quantum Minerals rallies 7.3%

Feb 7 (Reuters) - Canada's main stock index rose on Tuesday, tracking gains on Wall Street, as oil prices climbed and investors rushed to increase their exposure to stocks after comments by central bankers eased their worries about the interest rate outlook.

The Toronto Stock Exchange's S&P/TSX composite index ended up 96.08 points, or 0.5%, at 20,725.00, moving back in reach of its highest closing level in nearly eight months which it notched last Tuesday at 20,767.38.

Major U.S. benchmarks, including the S&P 500, also closed higher as comments from Federal Reserve Chair Jerome Powell fed investor hopes for less aggressive monetary policy.

"It feels like the TSX is following the move higher in the S&P 500," said Greg Taylor, portfolio manager at Purpose Investments.

"A lot of investors came into the year underexposed and defensive, and things seem to be getting better faster than everyone thought. It is causing people to cover and try and get reinvested and that's causing a mini-melt up."

Bank of Canada Governor Tiff Macklem also spoke, saying that no further interest rate hikes will be needed if, as expected, the economy stalls and inflation comes down.

The energy sector, which accounts for about 19% of the TSX's weighting, rose 2.8% as the price of oil settled 4.1% higher at $77.14 a barrel.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8%. It was helped by a 9.9% jump in the shares of Lithium Americas Corp after a favorable U.S. court ruling on the Thacker Pass lithium mine project.

First Quantum Minerals Ltd shares clawed back most of the previous day's decline, rising 7.3%, and financials advanced 0.9%. (Reporting by Fergal Smith; Additional reporting by Shristi Achar A and Shashwat Chauhan in Bengaluru; Editing by Shailesh Kuber and Jonathan Oatis)


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.35% 0.66815 Delayed Quote.-2.33%
BRENT OIL -0.01% 77.81 Delayed Quote.-12.79%
BRITISH POUND / US DOLLAR (GBP/USD) 0.12% 1.23098 Delayed Quote.1.23%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.01% 0.73217 Delayed Quote.-1.32%
EURO / US DOLLAR (EUR/USD) 0.16% 1.0824 Delayed Quote.0.96%
FIRST QUANTUM MINERALS LTD. 0.69% 29.145 Delayed Quote.2.30%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.03% 0.012175 Delayed Quote.0.47%
LITHIUM AMERICAS CORP. 5.89% 29.95 Delayed Quote.10.40%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.53% 0.6232 Delayed Quote.-2.21%
S&P/TSX COMPOSITE INDEX 0.28% 19671.84 Delayed Quote.0.60%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.02% 1.36588 Delayed Quote.1.42%
WTI -0.10% 72.985 Delayed Quote.-13.49%
All news about FIRST QUANTUM MINERALS LTD.
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Analyst Recommendations on FIRST QUANTUM MINERALS LTD.
More recommendations
Financials (USD)
Sales 2023 7 589 M - -
Net income 2023 623 M - -
Net Debt 2023 5 413 M - -
P/E ratio 2023 21,7x
Yield 2023 0,58%
Capitalization 14 498 M 14 498 M -
EV / Sales 2023 2,62x
EV / Sales 2024 2,35x
Nbr of Employees 20 000
Free-Float 79,6%
Chart FIRST QUANTUM MINERALS LTD.
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Technical analysis trends FIRST QUANTUM MINERALS LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 21,13 $
Average target price 22,93 $
Spread / Average Target 8,54%
EPS Revisions
Managers and Directors
A. Tristan Pascall Chief Executive Officer & Director
Ryan MacWilliam Chief Financial Officer
Philip K. R. Pascall Chairman
Rudi Badenhorst Chief Operating Officer
Andrew Bell Adams Independent Director
Sector and Competitors
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