Tue, Mar. 10, 3:45 PM
- Peabody Energy (BTU -5.6%) slides sharply after Jefferies downgrades shares to Hold from Buy with a $6 price target, cut from $10, on continued concerns about domestic thermal coal fundamentals due to low natural gas prices, weakening exports, MATS related coal plant closures and increased renewable capacity.
- BTU's Australian coal business is more likely to improve in the near-term due to higher seaborne thermal coal prices, the firm says, but operating costs have not declined nearly as much as competitors due to its extensive hedging program.
- Jefferies is bearish on mining shares in the near-term, and the firm revised many of its commodity price forecasts lower, but it has placed four metals and mining stocks above the rest: Freeport McMoRan (FCX -3.5%), Rio Tinto (RIO -2.6%), First Quantum (OTCPK:FQVLF -6.8%) and Angofagasta (OTCPK:ANFGY -5.8%).
Tue, Jan. 27, 10:58 AM
- First Quantum Minerals (OTCPK:FQVLF -8.5%) says it has substantially reduced planned capital spending in 2015 for its Cobre Panama copper project to $600M, while projecting total capital spending for the year of $1.2B-$1.4B.
- Says Q4 copper production fell 8.3% Y/Y to 105.1K metric tons while copper sales fell less than 1% to 94.8K metric tons; gold output fell 9% to 57.5K oz.
- For 2015, the company expects copper output of 410K-440K metric tons and gold production of 218K-247K oz.
Wed, Jan. 14, 12:49 PM
- As TD Securities analysts test free cash flow for Canadian copper producers at US$2.50/lb. for copper, every company in their coverage area except Copper Mountain Mining (OTCPK:CPPMF -13.5%) is found to have negative free cash flow.
- First Quantum Minerals (OTCPK:FQVLF -11.4%) might have the biggest problem, the TD analysts say, calculating that its free cash flow is negative US$1.2B at $2.50 copper due to a royalty hike in Zambia and major spending commitments at the Cobre Panama project.
- The favorite names in a low price environment are Lundin Mining (OTCPK:LUNMF -12.7%), HudBay Minerals (HBM -13.7%) and Nevsun Resources (NSU -4.7%), thanks to their solid balance sheets and low capital spending requirements in 2015.
Dec. 10, 2013, 12:42 PM
- First Quantum Minerals (FQVLF -2.5%) says it will delay the release of a full update on its Cobre Panama copper project to Q1 2014, saying it needs to "correct a number of acquired technical and logistical shortcomings" in the project development plan.
- Before being taken over by First Quantum earlier this year, Inmet had pegged the capital cost of developing the project at $6.2B; in its bid for Inmet, First Quantum had cited its project development expertise as a rationale for the combination.
FQVLF vs. ETF Alternatives
First Quantum Minerals Ltd. is a growing mining and metals company engaged in mineral exploration, development and mining. The Company produces LME grade "A" copper cathode, copper in concentrate, gold and sulphuric acid.
Other News & PR