Company
TSE:FQM
First Quantum Minerals is a growing mining and metals company whose principal activities include mineral exploration, development and mining. The Company produces LME grade "A" copper cathode, copper in concentrate, gold and sulphuric acid.
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In the third quarter to end September, First Quantum reported adjusted earnings of $0.14 a share, which was broadly in line with the Wall Street consensus of $0.15 a share
Inflation and oversupply could affect some metals, while nickel prices are forecast to go higher due to EV demand
Previewing second quarter (to end June 2022) metals prices and miners' earnings, the broker noted that prices had consistently moved south since the highs of the first quarter due to macro-economic trends
Risks to the downside are COVID and inflation, but the broker is broadly bullish
