|Bid||12.73 x 0|
|Ask||12.99 x 0|
|Day's Range||12.59 - 12.90|
|52 Week Range||9.45 - 23.05|
|Beta (3Y Monthly)||3.74|
|PE Ratio (TTM)||70.44|
|Earnings Date||Feb 11, 2019 - Feb 15, 2019|
|Forward Dividend & Yield||0.01 (0.08%)|
|1y Target Est||15.19|
* At 9:37 a.m. ET (1437 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 57.23 points, or 0.38 percent, at 15,103.51. * The optimism spilled over from Wall Street, which rose after strong earnings reports from Goldman Sachs and Bank of America. * On the TSX, 163 issues were higher, while 67 issues declined for a 2.43-to-1 ratio favouring gainers, with 12.74 million shares traded.
TORONTO , Jan. 15, 2019 /PRNewswire/ -- First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM") today announced its preliminary production and sales ...
TORONTO , Jan. 15, 2019 /PRNewswire/ - First Quantum Minerals Ltd. ("First Quantum" or the "Company", TSX Symbol "FM") today announced its preliminary production and sales ...
NEW YORK, NY / ACCESSWIRE / January 11, 2019 / The Market Edge strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register with us ...
Canada's main stock index touched a more than three-week high on Tuesday in a broad-based rally led by energy stocks, which rose in tandem with oil prices. * At 9:38 a.m. ET , the Toronto Stock Exchange's ...
The Canadian copper company is ramping up production at the Cobre Panama plant this year, even as a mining tax hike forces it to shed jobs and cut production at its Zambian facilities. With Panama slated to become a more prominent place of operations, bondholders should benefit as Panama’s stronger credit rating feeds into the debt’s prices, First Quantum President Clive Newall said in an interview.
Mining companies operating in Zambia have failed to show how higher taxes introduced this year will affect their profitability despite objecting to the new framework, a senior government official said on Thursday. The country, Africa's second-largest copper producer, increased its sliding scale for royalties of 4 to 6 percent by 1.5 percentage points from Jan. 1 and introduced a new 10 percent tax when the price of copper exceeds $7,500 per tonne. Zambia also plans to replace value-added tax with a sales tax by April to help bring down mounting public debt.
* The Toronto Stock Exchange's S&P/TSX rose 56.79 points, or 0.40 percent, to 14,222.00 to cap off a weekly gain of more than 2 percent, the best weekly performance since February. * Leading the index ...
Canada's First Quantum Minerals (FQM) said on Friday that it would lay off 2,500 workers in Zambia over plans by Africa's No.2 copper producer to hike mining taxes. The southern African country plans to introduce new mining duties, replace value-added tax (VAT) with a sales tax and increase royalties, from January, to help bring down mounting public debt. FQM said in a statement that it planned 1,250 layoffs at its Sentinel Mine at Kalumbila and 1,250 at the Kansanshi mine in Solwezi in the first quarter of 2019, as well as an unspecified number of contractors.
As we discussed in this series, falling copper prices have taken a toll on Freeport-McMoRan (FCX). Other miners including Southern Copper (SCCO), First Quantum Minerals (FM), and Rio Tinto (RIO) are also having a somber year. Falling copper prices aren’t the only concern for Freeport-McMoRan investors. The company is staring at a sharp fall in earnings in 2019 as the Grasberg mine transitions from overground to underground operations. Freeport-McMoRan still needs to sort out the environmental claims made by the Indonesian government.
Zambia is pricing itself out of the global mining market with proposed tax increases, the head of the local mining body said on Thursday, a further warning to investors rattled by the government's efforts to squeeze more money from the sector. Africa's No.2 copper producer plans to introduce new mining duties, replace value-added tax (VAT) with a sales tax and increase royalties, from January, to help bring down mounting public debt. Mining accounts for more than 70 percent of Zambia's foreign exchange earnings and companies operating in the southern African nation include First Quantum, Glencore and Vedanta Resources.
Canada's First Quantum Minerals plans to lay off more than 1,000 workers at Zambia's Kalumbila copper-nickel mine when the government hikes taxes in January, the minister of labour said on Saturday. Labour Minister Joyce Simukoko told Reuters that the management at Kalumbila mine wrote to her office last week informing her of the planned job cuts. "We received the letter last week informing us that they want to lay off more than 1,000 workers starting in January but we think these are arm-twisting tactics," Simukoko said.
Canada's main stock index gained on Tuesday in a broad-based rally led by energy stocks, which were supported by higher oil prices. ** The energy sector climbed 1.7 percent as crude prices jumped on the back of strength in global stocks, a slightly weaker dollar and an unplanned supply outage in OPEC member Libya. * At 9:38 a.m. ET (1438 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 216.02 points, or 1.47 percent, at 14,944.3.
Mining companies in Zambia may lay off more than 21,000 workers due to reduced capital expenditure over the next three years if the government introduces higher taxes in January, an industry body said on Tuesday. The Chamber of Mines said it met officials at the ministry of finance last week to present its views on the likely impact of the tax changes contained in the 2019 budget, which include capital expenditure cutbacks of more than $500 million. "Our members continue to review their operations and are having to consider scaling back substantially while reducing capital expenditure by over a half billion dollars over the next three years," chamber of mines spokesman Talent Ng'andwe said by email in response to questions by Reuters.
In the previous articles, we discussed China’s steel and aluminum exports. While China (FXI) accounts for the bulk of global steel and aluminum capacity, it lacks in copper deposits and is the largest copper importer. China imported 423,000 metric tons of unwrought copper last month, a YoY fall of 3.0%.
NEW YORK, NY / ACCESSWIRE / December 4, 2018 / The Market Edge strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register with us ...
Comparative analysis Freeport-McMoRan (FCX) posted an adjusted EBITDA of $1.8 billion in the third quarter. The company posted an EBITDA of $2.1 billion in the second quarter and $1.6 billion in the third quarter of 2017. The sequential decline in Freeport-McMoRan’s earrings, like other copper miners, was due to lower copper prices. After peaking in June, copper prices have come under pressure due to concerns about Chinese demand and the trade war. Southern Copper’s (SCCO) third-quarter EBITDA of $868 million was comparable to the third quarter of 2017. ...
Previously, we discussed copper miners’ production profiles and 2018 guidance. In this part, we’ll look at leading copper producers’ unit cash costs and see what’s impacted their unit cost progression.
In 2018, labor contracts at several leading copper mines came up for negotiation. Analysts expected disruptions in the copper supply due to labor disruptions. However, the copper supply has been smooth in 2018. Analysts build a disruption allowance in their models due to copper’s unpredictable supply. Most copper mining companies provide a guidance range instead of a specific guidance. In this part, we’ll discuss leading copper miners’ production guidance.
The third-quarter earnings season is nearly over. Most copper miners (XME) including First Quantum Minerals (FM) and Freeport-McMoRan (FCX) have released their third-quarter results. Diversified miners like Rio Tinto (RIO) and BHP Billiton (BHP) have only released their operating performance. They only release their half-yearly and annual financial results.
First Quantum Minerals (FM) has received “strong buy” ratings from eight analysts, while nine have given it “buy” ratings or some equivalent. The remaining five analysts polled by Thomson Reuters on November 22 have rated the stock as a “hold.”
Southern Copper (SCCO) has received a “buy” rating from only one analyst, while three have given it “hold” ratings. Three analysts have given it “sell” ratings, and the remaining analyst polled by Thomson Reuters on November 22 has given the stock a “strong sell” rating. Southern Copper has the lowest percentage of “buy” ratings among the copper miners we’re covering in this series.
Antofagasta (ANTO) has received “strong buy” ratings from seven analysts, while five have given it “buy” ratings or some equivalent. Six analysts have given Antofagasta “hold” ratings, while the remaining three analysts polled by Thomson Reuters on November 22 have rated it as a “sell” or lower.
Freeport-McMoRan (FCX) has received a “strong buy” rating from one analyst, while six have given it “buy” ratings. Thirteen analysts have given Freeport “hold” ratings, while the remaining two analysts polled by Thomson Reuters on November 22 have given it “sell” ratings or some equivalent.