|Bid||12.24 x N/A|
|Ask||12.25 x N/A|
|Day's Range||11.63 - 12.72|
|52 Week Range||7.84 - 17.76|
|Beta (3Y Monthly)||2.84|
|PE Ratio (TTM)||21.31|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||0.01 (0.09%)|
|1y Target Est||11.89|
(Bloomberg) -- First Quantum Minerals Ltd. shares posted their biggest two-day jump since early 2016, after people with knowledge of the matter said the owner of Africa’s biggest copper mine was drawing preliminary takeover interest from global miners.Vancouver-based First Quantum, which has a market capitalization of C$8.42 billion ($6.35 billion), is working with defense advisers to examine its options, the people said. The company attracted potential buyers after losing about half its value in the five years through Wednesday.The miner hasn’t yet received any formal takeover offers, the people said, asking not to be identified because the information is private.Jiangxi Copper Co., China’s top producer of the metal, has built up a stake of less than 10% in First Quantum in recent months, according to people with knowledge of the matter.Shares of First Quantum climbed 8.1% to close at C$12.21 in Toronto Friday. That takes the gains since Wednesday to 20%, the biggest two-day rally in more than three years.First Quantum controls the open-pit Kansanshi mine in Zambia, which has 340,000 metric tons of annual copper production capacity. The company has been at loggerheads with the government of the southern African country over issues from royalty increases to the planned introduction of a sales tax.It also owns other assets around the world including the Sentinel copper operation in Zambia, Las Cruces in Spain and the Ravensthorpe nickel mine in Western Australia. First Quantum also started ramping up production at the giant Cobre Panama copper development project in the central American country earlier this year.No final decisions have been made, and there’s no certainty the deliberations will lead to any transaction, the people said. Representatives for First Quantum didn’t respond to requests for comment. A representative for Jiangxi Copper said he wasn’t aware of the stake purchase.Copper, used in everything from automobiles to plumbing pipes, has dropped in five of the past six months as trade-war fears heat up and demand appears to be slowing in top-user China. Still, the metal’s long-term prospects are seen as strong amid under-investment in new mine supply and surging usage in electric vehicles.(Updates with closing share price in fifth paragraph.)\--With assistance from Steven Frank and Winnie Zhu.To contact the reporters on this story: Vinicy Chan in New York at email@example.com;Dinesh Nair in London at firstname.lastname@example.org;Scott Deveau in New York at email@example.comTo contact the editors responsible for this story: Ben Scent at firstname.lastname@example.org, ;Liana Baker at email@example.com, ;Luzi Ann Javier at firstname.lastname@example.org, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,899.69, up 41.34 points.)Roxgold Inc. (TSX:ROXG). Materials. Unchanged at $1.21 on 24.3 million shares.Husky Energy Inc. (TSX:HSE). Energy. Up eight cents, or 0.82 per cent, to $9.84 on 14.4 million shares.Encana Corp. (TSX:ECA). Energy. Up two cents, or 0.31 per cent, to $6.53 on 12.5 million shares.First Quantum Minerals Ltd. (TSX:FM). Materials. Up $1.01, or 9.02 per cent, to $12.21 on 12.2 million shares.NuVista Energy Ltd. (TSX:NVA). Energy. Down four cents, or 1.54 per cent, to $2.56 on 12.1 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Up 19 cents, or 0.78 per cent, to $24.47 on 12.1 million shares. Companies in the news:Hudson's Bay Co. (TSX:HBC). Up five cents to $9.96. Hudson's Bay Co. is closing its 15 Hudson's Bay stores in the Netherlands, as well as its e-commerce site and headquarters in the country by the end of the year. The company says it has come to an agreement with local unions to offer solutions for employees impacted by the closure. The union says there are 1,424 employees, although it's not clear how many are full-time and how many are part-time. HBC opened its first Hudson's Bay store in the Netherlands in 2017 as part of its growth strategy in Europe, but has since shifted to focus fully on North America.Choice Properties Real Estate Investment Trust. (TSX:CHP.UN). Up five cents to $14.40. Choice Properties Real Estate Investment Trust has signed a deal to sell 30 properties in mostly smaller communities across Canada for $426 million. The buyer was not immediately identified. The portfolio includes 27 stand-alone retail properties and three distribution centres. They have an average lease term of approximately 12 years with Loblaw Companies Ltd., an affiliated company. The buyer also has an option to acquire two additional stand-alone retail properties for $29 million. This report by The Canadian Press was first published Sept. 20, 2019.The Canadian Press
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TORONTO — First Quantum Minerals Ltd. says its earnings dropped 42 per cent in the second quarter from last year even as its copper production reached a record high.The company, which reports in U.S. dollars, says it had net earnings of $78 million in the last quarter compared with $135 million for the same quarter last year.RBC Capital Markets analyst Sam Crittenden says the company's adjusted earnings of 13 cents per share were in line with the consensus and his expectation.The company says commercial production at its massive Cobre Panama project is now expected in the third quarter rather than the fourth, while cost expectations have gone up by six per cent to $6.7 billion.The company says it also reached a settlement deal last week with the Zambian government on duties that was in line with its guidance.First Quantum produced 168,399 tonnes of copper in the quarter compared with 150,950 tonnes last year, and pulled in revenue of $939 million compared with $1.05 billion last year. On the Toronto Stock Exchange, its shares closed at $12.24, down 27 cents or 2.2 per cent in Monday trading. Companies in this story: (TSX:FM).The Canadian Press
TORONTO, July 29, 2019 -- First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX:FM) today announced that its Board of Directors has approved an interim dividend.
TORONTO, July 29, 2019 -- First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX:FM) today reported comparative earnings1 of $87 million or $0.13 per share1, net.
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