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First Quantum Minerals Upgraded to Buy at TD

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First Quantum Minerals (FM.TO) was upgraded to Buy from Hold at TD Securities on Tuesday.

Analyst Craig Hutchison raised his price target on shares of the Vancouver-based mining company to C$47 from C$42.

TD Securities has an "expectation that financial conditions should improve post Q2 as hedges roll off, the balance sheet improves from asset sales, and based on an increased conviction that FM can reach a deal on a full restart of Cobre in late 2026 or early 2027 following the conclusion of the audit," Hutchison said in a note to clients.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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