FM.TO - First Quantum Minerals Ltd.
| Previous Close | 7.08 |
| Open | 6.56 |
| Bid | 6.50 x N/A |
| Ask | 6.62 x N/A |
| Day's Range | 6.42 - 6.78 |
| 52 Week Range | 4.71 - 16.63 |
| Volume | 4,973,120 |
| Avg. Volume | 3,360,482 |
| Market Cap | 4.528B |
| Beta (5Y Monthly) | 4.06 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.08 |
| Earnings Date | Apr. 26, 2020 - Apr. 30, 2020 |
| Forward Dividend & Yield | 0.01 (0.14%) |
| Ex-Dividend Date | Apr. 14, 2020 |
| 1y Target Est | 10.11 |
- GlobeNewswire
FIRST QUANTUM PROVIDES UPDATE
First Quantum Minerals Ltd. ("First Quantum" or the "Company") (FM.TO) today announced that its production and sales remain stable in the current environment and maintains its production guidance for the year. “Our key priorities are the health of our employees and to ensure the business remains robust in the midst of a challenging commodity price environment,” stated Philip Pascall, CEO. Several members of the contractor workforce at the Cobre Panama operation have been confirmed as having contracted the COVID-19 virus.
- Bloomberg
Rio Tinto Is Digging Mostly Into Its Pocket
(Bloomberg Opinion) -- A combination of hefty dividends and contracting output is turning the world’s second-largest miner into the poster child for a $1.5 trillion industry’s growth quandary.Rio Tinto Group announced a record $3.7 billion final dividend Wednesday, adding to $11.9 billion of cash returns already paid in 2019. Yet it produced less iron ore, copper and aluminum, leaving market prices to lift underlying earnings by 18%. Rio’s Pilbara operations stumbled early in the year. Its Mongolian copper mine, a key source of future production and the basis of a greener portfolio, is now not only sorely overdue and over-budget, but also tangled in international tax arbitration. The $86 billion mining giant isn’t alone. High dividend yields and pedestrian output have begun to define resources heavyweights that used to be known for the exact opposite. Diversified groups relied on their varied sources of cash to expand, but large-scale opportunities are scarcer than ever, and portfolios look far less diverse too, once coal and other less appealing assets have been carved off. At Rio, iron ore now accounts for three-quarters of its underlying Ebitda.For investors, it hasn’t been all bad news. Since Chief Executive Officer Jean-Sebastien Jacques took the helm in 2016, Rio’s total return including reinvested dividends adds up to an impressive 112%, outpacing most rivals.Yet much of that is due to generous payouts. For a company that digs stuff up for a living, this may not be sustainable — especially for one that aims to build a portfolio better aligned with a carbon-light global economy. It may also be an indication of just how hard it is to change. Rio paid shareholders in 2019 more than double its capital expenditure budget for the same year.One priority has been copper. Under Jacques, head of that unit until he became CEO, Rio has said it wants to add more of the red metal as its existing mines age, and will look at other green ingredients, those for rechargeable batteries and the like. Yet a unit set up to consider just such deals hasn’t sealed a single one despite considering more than 200 opportunities, and the company has suffered blow after blow in Mongolia. Its Oyu Tolgoi mine in the South Gobi accounts for only a fraction of Rio’s value today, but could dictate the company’s fortunes. So far, it’s mostly an unhelpful headache. The mine, which Rio holds through Canada-listed Turquoise Hill Resources Ltd., is one of the largest copper deposits around, and could produce an annual 550,000 metric tons of copper, almost as much as Rio produced last year, plus 450,000 ounces of gold. In the parlance of big miners, it moves the needle.Unfortunately, it also encapsulates everything that makes such projects so challenging: tough geography, messy local politics and complex geology. The cost of the largest, underground, portion has swelled to as much as $7.2 billion, and could rise again when a final estimate is published later in 2020. First production may now be be 30 months later than predicted. Fears of a cash call have dragged down Turquoise Hill shares.In the latest development, Rio announced last week it would begin arbitration proceedings to solve a tax dispute. Few arbitration deals yield significant victories — ask Barrick Gold Corp. and Antofagasta Plc, which won a $5.8 billion ruling against Pakistan last year — and they tend to irk host governments, so it’s a worrying sign. The risk is that Oyu Tolgoi becomes Rio Tinto’s own version of Freeport-McMoRan Inc.’s Indonesian pride and joy, Grasberg – wonderful in theory, nearly impossible in practice.Rio won’t drop Mongolia, and not just because of Jacques’ own attachment to the project. A copper option, however long-dated, is valuable, even if the company doesn’t yet jump in to buy out Turquoise Hill minority shareholders.But what then? Rio has manageable debt and ample cash — $9.2 billion in free cash flow in 2019, the highest level in almost a decade — and deals look cheaper as shares in copper-heavy Freeport and First Quantum Minerals Ltd. have roughly halved since 2018. Perhaps, though, not cheap enough to warrant wrestling with Freeport’s U.S. liabilities or First Quantum’s Zambian operations.Rio isn’t shrinking quite yet. It has exploration projects, and iron-ore production already did better in the second half, albeit still short of the company’s ultimate target. Yet with Oyu Tolgoi mired in arbitration and geological complexities, and the economy swiftly shifting, it might be time for Rio to consider just how creative it can get.To contact the author of this story: Clara Ferreira Marques at cferreirama@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Thomson Reuters StreetEvents
Edited Transcript of FM.TO earnings conference call or presentation 14-Feb-20 2:00pm GMT
Q4 2019 First Quantum Minerals Ltd Earnings Call
- GlobeNewswire
First Quantum Minerals Reports Fourth Quarter and Full Year 2019 Results
(In United States dollars, except where noted otherwise) TORONTO, Feb. 13, 2020 -- First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM) today reported for.
- GlobeNewswire
First Quantum Declares a Final Dividend of CDN$0.005 Per Share
The dividend will be paid on May 7, 2020 to shareholders of record on April 16, 2020. The Company has established a Dividend Reinvestment and Share Purchase Plan (the "Plan") for its Canadian resident shareholders ("Eligible Shareholders"). The Plan enables Eligible Shareholders to reinvest the cash dividends paid on all or a portion of their Common Shares into additional Common Shares, which will be issued at 97% of the Average Market Price (as defined in the Plan) and provides the opportunity to make optional cash purchases of additional Common Shares on a semi-annual basis, on dividend payment dates.
- The Canadian Press
Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (17,490.56, down 21.19 points.)Detour Gold Corp. (TSX:DGC). Materials. Down $1.11, or 4.62 per cent, to $22.90 on 9.2 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 2.36 per cent, to $1.24 on 4.6 million shares.First Quantum Minerals Ltd. (TSX:FM). Materials. Down 47 cents, or 4.09 per cent, to $11.01 on 4.3 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up nine cents, or 0.23 per cent, to $38.78 on 4.2 million shares.Kirkland Lake Gold Ltd. (TSX:KL). Materials. Down $2.26, or 4.09 per cent, to $53.04 on 4.2 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Down one cent, or 0.04 per cent, to $26.48 on 4.1 million shares. Companies in the news:Manulife Financial Corp. — When Manulife Financial Corp.'s president and CEO of Canadian operations Michael Doughty thinks about his biggest competitors, a few names make the list that have nothing to do with insurance: Apple and Netflix. The customer experience offered by streaming platform Netflix Inc. and consumer electronics brand Apple Inc. is constantly on Doughty's mind as Manulife tries to win over customers while grappling with relative newcomers to the insurance space, including Toronto-based customizable benefits brand League, which is picking up attention and raising big money. Cenovus Energy Inc. (TSX:CVE). Up 13 cents to $11.94. Indigenous leaders say they hope other companies will follow the lead of Cenovus Energy Inc. after it pledged to give $10 million per year over the next five years to support housing in six northern Alberta communities near its oilsands operations. Shirley Paradis, a councillor for the Beaver Lake Cree Nation, says the money is needed because the community's housing resources are stretched to the limit and government funding is inadequate to address the growing population. Cenovus CEO Alex Pourbaix says the $50 million is expected to be used to build about 200 new homes in the communities, employing local people who will gain experience and training in the process.Cineplex Inc. (TSX:CGX). Down 12 cents to $33.84. Cineplex Inc. says two influential proxy advisory services have recommended shareholders support a takeover of the company by U.K.-based Cineworld Group PLC. The movie theatre chain says Institutional Shareholder Services Inc. and Glass, Lewis & Co. have both recommended shareholders back the friendly deal that will see Cineworld pay $34 per Cineplex share in cash. Cineplex shareholders are set to vote on the deal at a meeting in Toronto on Feb. 11. The board of directors of Cineplex has unanimously recommended that Cineplex shareholders vote in favour of the agreement.Resolute Forest Products Inc. (TSX:RFP). Down 60 cents or 12 per cent to $4.40. Resolute Forest Products Inc. reported a loss of US$71 million in its latest quarter compared with a profit of US$36 million a year earlier as its sales fell. Resolute chief executive Yves Laflamme says the fourth-quarter results reflect bottom-of-the-cycle conditions in market pulp, ongoing pricing pressures in paper grades and the slow pricing recovery in lumber. The company, which keeps its books in U.S. dollars, says the loss amounted to 79 cents per diluted share for the quarter ended Dec. 31 compared with a profit of 38 cents per diluted share a year earlier. Sales totalled US$668 million, down from US$932 million.This report by The Canadian Press was first published Jan. 30, 2020. The Canadian Press
- Simply Wall St.
The First Quantum Minerals (TSE:FM) Share Price Is Down 29% So Some Shareholders Are Getting Worried
As an investor its worth striving to ensure your overall portfolio beats the market average. But in any portfolio...
- GlobeNewswire
First Quantum Provides Notice of Third Quarter Results Release
TORONTO, Jan. 21, 2020 -- First Quantum Minerals Ltd. (“the Company”) (TSX:FM) will release fourth quarter and full year 2019 financial and operating results on Thursday.
- GlobeNewswire
First Quantum Minerals Announces Notice of Redemption of the Entire Outstanding Amount of Its 7.00% Senior Notes Due February 15, 2021
(In United States dollars, except where noted otherwise) TORONTO, Jan. 16, 2020 -- First Quantum Minerals Ltd. (TSX:FM) today announced that it has issued a notice of.
- GlobeNewswire
First Quantum Minerals Announces Pricing of Senior Notes Offering
First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (FM.TO) today announced that it has successfully completed the pricing of its tap issuance of $500 million aggregate principal amount of 7.25% Senior Notes due 2023 (the “2023 New Notes”) and an additional tap issuance of $250 million aggregate principal amount of 7.50% Senior Notes due 2025 (the “2025 New Notes”, collectively the “Notes”). The issue price of the 2023 New Notes is 102.50% representing a yield to maturity of 6.373%.
- GlobeNewswire
First Quantum Minerals Announces Senior Notes Offering
First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (FM.TO) today announced that it is launching an offering of an additional $300 million principal amount of its Senior Notes due 2023 (the "Additional 2023 Notes"). The Company currently has $1.1 billion of Senior Notes due 2023 (the “Existing 2023 Notes”) outstanding and the Additional 2023 Notes will be offered under the same indenture as the Existing 2023 Notes.
- GlobeNewswire
First Quantum Minerals Announces 2019 Preliminary Production and 2020-2022 Guidance
TORONTO, Jan. 09, 2020 -- First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM) today announced preliminary production for the three months and year ended.
- GlobeNewswire
First Quantum Adopts Shareholder Rights Plan and Advance Notice Policy
First Quantum Minerals Ltd. (“FQM” or the “Company”) (FM.TO) has adopted a shareholder rights plan (the “Rights Plan”) with Computershare Investor Services Inc. as rights agent effective as of January 6, 2020 (the “Effective Date”). The Company has also adopted an advance notice policy (the “Policy”) effective as of the Effective Date. The Rights Plan has been adopted with a view to ensure, to the extent possible, that all shareholders of the Company are treated fairly in connection with any takeover bid for the Company.
- Reuters
Exclusive: Canada's First Quantum weighs $1 billion Zambian copper mine expansion - document
TORONTO/LONDON (Reuters) - Canadian miner First Quantum Minerals Ltd is weighing investment of around $1 billion to lift output at Africa's biggest copper mine in Zambia, a company document seen by Reuters showed, despite a feud with state miner ZCCM-IH over project funding. The investment would add a decade of life and head off production declines at the Kansanshi copper mine, increasing annual production to 300,000 tonnes over time from an expected 235,000 tonnes last year, according to a company presentation given to Zambian government officials. Western miners are on edge as Zambia and neighboring countries seek to increase their share of revenue from natural resources.
- The Motley Fool
Will Another Financial Crisis Occur in 2020?
Base metal miners such as First Quantum Minerals Ltd. (TSX:FM) are increasingly vulnerable to a global economic downturn.
- Simply Wall St.
How Should Investors React To First Quantum Minerals Ltd.'s (TSE:FM) CEO Pay?
Philip Kelvin Pascall has been the CEO of First Quantum Minerals Ltd. (TSE:FM) since 1996. This report will, first...
- Baystreet
TSX Hangs (Barely) onto Gains
Equities in Canada’s largest centre edged higher on Friday as China said it had decided to cancel tariffs ...
- Reuters
Canada's First Quantum may team-up with Rio Tinto to develop Peru copper mine
Canadian miner First Quantum Minerals Ltd is looking for strategic partners to develop new copper projects and a joint venture with Rio Tinto in Peru could be on the cards, First Quantum's chief executive officer said on Wednesday. "That is what we are going to explore and it just depends on what kind of partner we get," First Quantum CEO Philip Pascall said on the sidelines of a conference in London, referring to the company's plans to find strategic partners.
- Simply Wall St.
How Does First Quantum Minerals's (TSE:FM) P/E Compare To Its Industry, After Its Big Share Price Gain?
It's great to see First Quantum Minerals (TSE:FM) shareholders have their patience rewarded with a 35% share price pop...
- Thomson Reuters StreetEvents
Edited Transcript of FM.TO earnings conference call or presentation 29-Oct-19 1:00pm GMT
Q3 2019 First Quantum Minerals Ltd Earnings Call
