{"id":43567,"date":"2023-12-01T01:30:45","date_gmt":"2023-12-01T01:30:45","guid":{"rendered":"https:\/?p=43567"},"modified":"2023-12-01T01:34:21","modified_gmt":"2023-12-01T01:34:21","slug":"first-quantum-minerals-fmtsx-sta-research-downgrades-to-sell-from-hold","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/first-quantum-minerals-fmtsx-sta-research-downgrades-to-sell-from-hold\/","title":{"rendered":"First Quantum Minerals (FM:TSX) STA Research Downgrades to “Sell” from “Hold”"},"content":{"rendered":"

Analyst Ratings Coverage<\/h2>\n

STA Research (Rank #24)<\/a> on Thursday November 30th, issued a research report on First Quantum Mineral’s<\/a> stock, downgrading the stock’s rating to a “Sell” from a “Hold” rating.\u00a0 STA Research also cut drastically the 12 month target to $8 from $29 per share.<\/p>\n

The research compony is basing their downgrade on the concern around the closure of the company’s main copper mine, Cobre in Panama.\u00a0 The mine was closed this week by a local court on the grounds that their contract for operation was not valid.\u00a0 STA Research believes that the stock is faced with a lot of risk, and it’s valuation could deteriorate further.\u00a0 The research company notes that their is a possibility that the stock could test 2016 low’s of $2 per share, if the murkiness remains around the mines foreseeable future.<\/p>\n

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FM:CA Ratings<\/a> by Stock Target Advisor<\/p>\n<\/div>\n