First Quantum Minerals Ltd (TSE FM) added Dec 16, 2008
First Quantum Minerals Ltd. is a growing mining and metals company whose
principal activities include mineral exploration, development and mining. The
Company produces LME grade "A" copper cathode, copper in concentrate,
gold and sulphuric acid.
The Company's operations in Zambia include the 100%
owned Bwana Mkubwa SX/EW facility and sulphuric acid plants and the 80% owned
Kansanshi open pit copper-gold mine. First Quantum also holds strategic
investments in Zambia through Mopani Copper Mines (16.9%) who operate the Nkana
underground copper mine and cobalt refinery and the Mufulira underground copper
mine, smelter and copper refinery, as well as Equinox Minerals Ltd. (17.3%) who
are developing the Lumwana copper mine.
In the Democratic Republic of Congo, First
Quantum operates the 100% owned Lonshi open pit copper mine which provides oxide
copper ore for processing at Bwana Mkubwa, a 95% interest in the Frontier copper
deposit, and a 65% interest in the Kolwezi copper-cobalt tailings project.
In Mauritania, First Quantum operates the 80% owned
Guelb Moghrein copper gold mine.
In 2007, First Quantum produced 226,000 tonnes for
copper and reported a net profit of US$ 520 million. In 2008, First Quantum is
forecast to produce 310,000 tonnes of copper, a 37% increase over 2007.
UPDATE 1-Zambia says First Quantum to pay $224 mln in back tax
First Quantum Minerals Board of Directors Approves a Five-For-One Stock Split
First Quantum Minerals Provides Update on Expansion and Development Objectives
Gary Lampard ….Canaccord/Adams.....Aug 10, 2011
Upgraded to BUY from HOLD
Target reduced to $25.00 from $26.60Cdn
FM Price day before:$22.43Finish day posting$21.73Current $21.73
Please Note The following have not been adjusted for a 5 for 1 stock split
Please Note The following have not been adjusted for a 5 for 1 stock split Aug 08, 2011
---------July 08, 2011--------
Maintained HOLD
Target raised to $133.00 from $125.00Cdn
FM Price day before:$138.64Finish day posting$136.20Current $103.64
------May 10, 2011-------
Maintained HOLD
Target raised to $125.00 from $122.00Cdn
FM Price day before:$127.50Finish day posting$127.82Current $103.64
-----Jan 14, 2011------
Maintained HOLD
Target raised to $120.00 from $110.00Cdn
FM Price day before:$124.80Finish day posting$120.32Current $103.64
------Jan 07, 2011-------
Maintained HOLD
Target raised to $110.00 from $85.00Cdn
FM Price day before:$114.35Finish day posting$114.65Current $103.64
-------Nov 11, 2010----------
Maintained HOLD
Target raised to $85.00 from $81.00Cdn (Target Hit Nov 16, 2010)
FM Price day before:$91.00Finish day posting$93.80Current $103.64
--------Oct 20, 2010-----
Maintained HOLD
Target raised to $81.00 from $80.00Cdn
FM Price day before:$79.70Finish day posting$81.33Current $103.64
--------Mar 29, 2010-------
Maintained HOLD
Target raised to $102.00 from $98.50Cdn
FM Price day before:$90.72Finish day posting$92.56Current $103.64
------Mar 17, 2010-----
Downgraded to HOLD from BUY
FM Price day before:$91.28Finish day posting$88.66Current $103.64
------Jan 25, 2010-------
Maintained BUY
Target raised to $98.50 from $85.00Cdn
FM Price day before:$89.50Finish day posting$88.30Current $103.64
------Nov 12, 2009-------
Maintained BUY
Target raised to $85.00 from $83.00Cdn (Target Hit Nov 25, 2009)
FM Price day before:$73.82Finish day posting$70.43Current $103.64
-------Oct 13, 2009-------
Maintained BUY
Target raised to $83.00 from $76.00Cdn (Target Hit Nov 25, 2009)
FM Price day before:$70.43Finish day posting$71.55Current $103.64
------Sept 28, 2009--------
Upgraded to BUY from HOLD
Target raised to $76.00 from $65.00Cdn (Target Hit Oct 21, 2009)
FM Price day before:$67.01Finish day posting$68.86Current $103.64
-------July 23, 2009--------
Maintained HOLD
Target raised to $63.00 from $57.50Cdn (Target Hit)
FM Price day before:$65.26Finish day posting$68.65Current $103.64
-----June 11, 2009-------
Maintained HOLD
Target raised to $50.00 from $46.00Cdn
FM Price day before:$56.00Finish day posting$59.04Current $103.64
------May 14, 2009---------
Downgraded to HOLD from BUY
Target raised to $46.00 from $45.00Cdn
FM Price day before:$45.00Finish day posting$47.20Current $103.64
--------Apr 06, 2009-------
Maintained BUY
Target raised to $45.00 from $39.00Cdn (Target Hit Apr 30, 2009)
FM Price day before:$41.19Finish day posting$39.50Current $103.64
------Mar 10, 2009--------
Maintained BUY
Target raised to $39.00 from $37.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$33.20Finish day posting$33.50Current $103.64
------Feb 17, 2009-----
Upgraded to BUY from HOLD
Target raised to $37.00 from $24.00Cdn (Target Hit Mar 13, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
-------Jan 12, 2008-----
Maintained HOLD
Target raised to $24.00 from $13.80Cdn (Target Hit)
FM Price day before:$23.60Finish day posting$22.00Current $103.64
------Nov 21, 2008-------
Upgraded to HOLD from SELL
Target reduced to $13.80 from $19.50Cdn
FM Price day before:$13.63Finish day posting$14.81Current $103.64
--------Oct 20, 2008-------
Maintained SELL
Target raised to $19.50 from $18.50Cdn (Target Hit Oct 23, 2008)
FM Price day before:$23.67Finish day posting$22.00Current $103.64
**************
David Cotterell….BMO Capital Markets.....Aug 10, 2011
Maintained OUTPERFORM
Target $30.00Cdn
FM Price day before:$22.43Finish day posting$21.73Current $21.73
Please Note The following have not been adjusted for a 5 for 1 stock split
Please Note The following have not been adjusted for a 5 for 1 stock split Aug 08, 2011
------June 20, 2011------
Maintained OUTPERFORM
Target $150.00 Cdn
FM Price day before:$119.01Finish day posting$119.17Current $103.64
***********
Alec Kodatsky........CIBC World Markets.....Aug 10, 2011
Target reduced to $29.00 from $31.00Cdn
FM Price day before:$22.43Finish day posting$21.73Current $21.73
Please Note The following have not been adjusted for a 5 for 1 stock split
Please Note The following have not been adjusted for a 5 for 1 stock split Aug 08, 2011
Jan 26, 2011
Target raised to $155.00 from $130.00Cdn
FM Price day before:$111.86Finish day posting$119.51Current $103.64
-------Dec 17, 2010-----
Target raised to $130.00 from $110.00Cdn (Target Hit Apr 01, 2011)
FM Price day before:$110.78Finish day posting$111.23Current $103.64
-------Nov 11, 2010---------
Target raised to $110.00 from $105.00Cdn (Target Hit Dec 10, 2010)
FM Price day before:$91.00Finish day posting$93.80Current $103.64
-------Oct 13, 2010-------
Target raised to $105.00 from $85.00Cdn (Target Hit Dec 07, 2010)
FM Price day before:$81.47Finish day posting$83.50Current $103.64
------Aug 30, 2010--------
Target reduced to $85.00 from $92.00Cdn (Target Hit Oct 08, 2010)
FM Price day before:$58.68Finish day posting$61.17Current $103.64
------May 25, 2010-------
Target reduced to $100.00 from $115.00Cdn
FM Price day before:$62.79Finish day posting$55.36Current $103.64
**********
Fraser Phillips ….RBC Capital Markets.....Aug 10, 2011
Maintained UNDERPERFORM
Target reduced to $25.00 from $26.60Cdn
FM Price day before:$22.43Finish day posting$21.73Current $21.73
Please Note The following have not been adjusted for a 5 for 1 stock split
Please Note The following have not been adjusted for a 5 for 1 stock split Aug 08, 2011
------Mar 17, 2011------
Maintained UNDERPERFORM
Target reduced to $125.00 from $130.00Cdn (Target Hit Mar 21, 2011)
FM Price day before:$114.75Finish day posting$121.20Current $103.64
-------Nov 10, 2010-------
Maintained UNDERPERFORM
Target raised to $105.00 from $70.00Cdn (Target Hit Dec 07, 2010)
FM Price day before:$95.25Finish day posting$91.00Current $103.64
--------May 27, 2010----
Maintained UNDERPERFORM
Target reduced to $65.00 from $80.00Cdn (Target Hit June 21, 2009)
FM Price day before:$55.23Finish day posting$57.30Current $103.64
-------Mar 17, 2010------
Target reduced to $94.00 from $95.00Cdn
FM Price day before:$91.28Finish day posting$88.66Current $103.64
------Aug 28, 2009-------
Downgraded to SECTOR PERFORM from OUTPERFORM
Target raised to $71.00 from $60.00Cdn
FM Price day before:$71.89Finish day posting$67.00Current $103.64
--------June 23, 2009--------
Target raised to $60.00 from $46.00Cdn (Target Hit July 17, 2009)
FM Price day before:$50.55Finish day posting$50.64Current $103.64
-------Apr 20, 2009-------
Target raised to $46.00 from $36.00Cdn (Target Hit)
FM Price day before:$43.50Finish day posting$38.05Current $103.64
-----Feb 17, 2009-----
Target raised to $32.00 from $29.00Cdn
FM Price day before:$31.56Finish day posting$31.80Current $103.64
-------Oct 17, 2008-------
Upgraded to OUTPERFORM from SECTOR PERFORM
Target reduced to $29.00 from $85.00Cdn (Target Hit Feb 06, 2009)
FM Price day before:$22.00Finish day posting$26.01Current $103.64
**************
Greg Barnes ............TD NewCrest….Aug 10, 2011
Maintained ACTION LIST BUY
Target reduced to $30.00 from $31.00Cdn
FM Price day before:$22.43Finish day posting$21.73Current $21.73
Please Note The following have not been adjusted for a 5 for 1 stock split
------July 08, 2011-----
Maintained ACTION LIST BUY
Target $155.00 Cdn
FM Price day before:$138.64Finish day posting$136.20Current $103.64
------Feb 04, 2011------
Maintained ACTION LIST BUY
Target raised to $155.00 from $150.00Cdn
FM Price day before:$125.00Finish day posting$129.10Current $103.64
-------Jan 10, 2011-----
Upgraded to ACTION LIST BUY from BUY
Target raised to $150.00 from $122.00Cdn
FM Price day before:$114.65Finish day posting$114.61Current $103.64
--------Dec 07, 2010------
Upgraded to BUY from HOLD
Target raised to $122.00 from $94.00Cdn (Target Hit Jan 11, 2011)
FM Price day before:$99.49Finish day posting$105.30Current $103.64
-------Oct 08, 2010----
Maintained HOLD
Target raised to $81.00 from $68.00Cdn
FM Price day before:$81.40Finish day posting$84.63Current $103.64
--------Aug 23, 2010---------
Maintained HOLD
Target reduced to $65.00 from $72.00Cdn (Target Hit Sept 01, 2010)
FM Price day before:$56.15Finish day posting$57.55Current $103.64
------Aug 12, 2010-------
Maintained HOLD
Target reduced to $72.00 from $75.00Cdn
FM Price day before:$62.00Finish day posting$59.19Current $103.64
------June 21, 2010-------
Maintained HOLD
Target reduced to $75.00 from $80.00Cdn
FM Price day before:$61.89Finish day posting$64.59Current $103.64
-----May 25, 2010-------
Maintained HOLD
Target reduced to $80.00 from $88.00Cdn
FM Price day before:$62.79Finish day posting$55.36Current $103.64
------Mar 31, 2010----
Target reduced to $95.00 from $102.00Cdn
FM Price day before:$86.00Finish day posting$83.57Current $103.64
-----Mar 17, 2010-------
Target raised to $102.00 from $100.00Cdn
FM Price day before:$91.28Finish day posting$88.66Current $103.64
-----Jan 12, 2010-------
Maintained HOLD
Target raised to $83.00 from $80.00Cdn (Target Hit Jan 27, 2010)
FM Price day before:$94.75Finish day posting$88.40Current $103.64
------Dec 09, 2009-----
Maintained HOLD
Target reduced to $80.00 from $85.00Cdn (Target Hit)
FM Price day before:$76.17Finish day posting$74.70Current $103.64
------Nov 24, 2009------
Maintained HOLD
Target raised to $85.00 from $80.00Cdn (Target Hit Nov 25, 2009)
FM Price day before:$80.11Finish day posting$79.78Current $103.64
------Oct 08, 2009------
Maintained HOLD
Target $80.00Cdn (Target Hit Nov 23, 2009)
FM Price day before:$68.79Finish day posting$69.90Current $103.64
------July 21, 2009------
Maintained BUY
Target raised to $80.00 from $70.00Cdn (Target Hit Nov 23, 2009)
FM Price day before:$69.64Finish day posting$64.15Current $103.64
-------June 22, 2009--------
Maintained BUY
Target raised to $70.00 from $53.00Cdn (Target Hit July 21, 2009)
FM Price day before:$55.23Finish day posting$50.55Current $103.64
-------May 14, 2009------
Maintained BUY
Target raised to $53.00 from $48.00Cdn (Target Hit June 02, 2009)
FM Price day before:$45.00Finish day posting$47.20Current $103.64
------Apr 03, 2009-------
Upgraded to BUY from HOLD
Target raised to $48.00 from $40.00Cdn (Target Hit May 01, 2009)
FM Price day before:$38.13Finish day posting$41.19Current $103.64
-------Mar 25, 2009--------
Downgraded to HOLD from BUY
Target $40.00Cdn
FM Price day before:$36.50Finish day posting$36.25Current $103.64
------Mar 10, 2009-----
Upgraded to BUY from HOLD
Target raised to $40.00 from $35.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$33.20Finish day posting$33.50Current $103.64
------Feb 17, 2009---------
Maintained HOLD
Target raised to $35.00 from $23.00Cdn (Target Hit Mar 11, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
--------Jan 08, 2009-------
Maintained HOLD
Target raised to $23.00 from $18.00Cdn (Target Hit Jan 08, 2009)
FM Price day before:$24.31Finish day posting$24.33Current $103.64
------Dec 11, 2008---
Downgraded to HOLD from BUY
Target reduced to $18.00 from $35.00Cdn (Target Hit)
FM Price day before:$17.61Finish day posting$17.01Current $103.64
--------Nov 14, 2008------
Maintained BUY
Target reduced to $35.00 from $51.00Cdn
FM Price day before:$21.67Finish day posting$19.45Current $103.64
**************
John Hughes ….Desjardins Securities.....July 08, 2011
Maintained BUY
Target $163.25 Cdn
FM Price day before:$138.64Finish day posting$136.20Current $103.64
-------Feb 08, 2011-------
Target raised to $163.25 from $139.00Cdn
FM Price day before:$133.00Finish day posting$137.30Current $103.64
---------Jan 26, 2011------
Maintained BUY
Target $139.00Cdn
FM Price day before:$111.86Finish day posting$119.51Current $103.64
-------Dec 10, 2010--------
Maintained BUY
Target raised to $123.70 from $107.30Cdn (Target Hit Jan 12, 2011)
FM Price day before:$108.50Finish day posting$118.94Current $103.64
------Oct 27, 2010--------
Maintained BUY
Target $107.30Cdn (Target Hit Dec 07, 2010)
FM Price day before:$86.65Finish day posting$87.62Current $103.64
------Sept 16, 2010-------
Maintained BUY
Target $107.00Cdn (Target Hit Dec 07, 2010)
FM Price day before:$64.22Finish day posting$65.69Current $103.64
-------Mar 31, 2010-----
Target reduced to $107.00 from $120.00Cdn (Target Hit Dec 07, 2010)
FM Price day before:$86.00Finish day posting$83.57Current $103.64
------Oct 21, 2009-------
Maintained BUY
Target reduced to $103.00 from $98.65Cdn (Target Hit Dec 07, 2010)
FM Price day before:$72.32Finish day posting$75.98Current $103.64
-------June 10, 2009------
Maintained BUY
Target raised to $50.00 from $46.00Cdn
FM Price day before:$51.95Finish day posting$56.00Current $103.64
------Apr 14, 2009----
Upgraded to BUY from HOLD
Target reduced to $55.15 from $37.05Cdn (Target Hit May 08, 2009)
FM Price day before:$43.43Finish day posting$42.85Current $103.64
-------Mar 24, 2009----------
Downgraded to HOLD from BUY
Target reduced to $37.05 from $38.00Cdn
FM Price day before:$42.22Finish day posting$36.50Current $103.64
------Feb 17, 2009------
Target raised to $38.80 from $35.30Cdn (Target Hit Mar 19, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
**************
............….June 17, 2011
Upgraded to BUY from HOLD
FM Price day before:$115.37Finish day posting$119.01Current $103.64
***********
Cliff Hale-Sanders….Cormark.....May 10, 2011
Maintained MARKET PERFORM
Target reduced to $140.00 from $144.00Cdn (Target Hit June 30, 2011)
FM Price day before:$127.50Finish day posting$127.82Current $103.64
------Apr 15, 2011-----
Target raised to $144.00 from $134.00Cdn
FM Price day before:$119.06Finish day posting$119.01Current $103.64
--------Jan 26, 2011------
Target raised to $134.00 from $120.00Cdn (Target Hit Apr 04, 2011)
FM Price day before:$111.86Finish day posting$119.51Current $103.64
------Jan 10, 2011-------
Target raised to $120.00 from $92.00Cdn (Target Hit)
FM Price day before:$114.65Finish day posting$114.61Current $103.64
-------Nov 11, 2010--------
Target raised to $92.00 from $85.00Cdn
FM Price day before:$91.00Finish day posting$93.80Current $103.64
------Oct 15, 2010----
Maintained MARKET PERFORM
Target raised to $85.00 from $80.00Cdn (Target Hit)
FM Price day before:$82.51Finish day posting$83.07Current $103.64
-------Sept 24, 2010--------
Target raised to $80.00 from $65.00Cdn (Target Hit Oct 01, 2010)
FM Price day before:$70.00Finish day posting$74.07Current $103.64
-------Aug 30, 2010-------
Target reduced to $65.00 from $72.00Cdn(Target Hit Sept 01, 2010)
FM Price day before:$58.68Finish day posting$61.17Current $103.64
------May 13, 2010--------
Target reduced to $88.00 from $92.00Cdn
FM Price day before:$73.60Finish day posting$71.27Current $103.64
------Mar 25, 2010-------
Maintained MARKET PERFORM
Target raised to $92.00 from $90.00Cdn
FM Price day before:$90.20Finish day posting$89.81Current $103.64
************
Kerry Smith ….Haywood Securities....Apr 15, 2011
Target raised to $140.00 from $120.00Cdn (Target Hit June 30, 2011)
FM Price day before:$119.06Finish day posting$119.01Current $103.64
-------Aug 31, 2010------
Target reduced to $75.00 from $95.00Cdn (Target Hit Sept 27, 2010)
FM Price day before:$61.17Finish day posting$61.48Current $103.64
-------Mar 17, 2010-------
Target reduced to $105.00 from $95.00Cdn
FM Price day before:$91.28Finish day posting$88.66Current $103.64
-------Nov 12, 2009--------
Maintained OUTPERFORM
Target reduced to $92.00 from $98.00Cdn
FM Price day before:$73.82Finish day posting$70.43Current $103.64
-----Oct 21, 2009--------
Upgraded to OUTPERFORM from SECTOR PERFORM
Target reduced to $98.00 from $77.00Cdn
FM Price day before:$72.32Finish day posting$75.98Current $103.64
-------Aug 12, 2009---------
Maintained SECTOR PERFORM
Target raised to $77.00 from $60.00Cdn (Target Hit Oct 21, 2009)
FM Price day before:$69.26Finish day posting$67.14Current $103.64
-------May 29, 2009-------
Maintained SECTOR PERFORM
Target raised to $45.00 from $40.00Cdn
FM Price day before:$47.20Finish day posting$48.64Current $103.64
----------May 14, 2009------
Maintained SECTOR PERFORM
Target raised to $40.00 from $39.00Cdn
FM Price day before:$45.00Finish day posting$47.20Current $103.64
-------Feb 19, 2009-------
Maintained SECTOR PERFORM
Target raised to $39.00 from $23.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$31.80Finish day posting$33.40Current $103.64
------Jan 07, 2009-------
Downgraded to SECTOR PERFORM from OUTPERFORM
Target reduced to $23.00 from $29.50Cdn (Target Hit Jan 08, 2009)
FM Price day before:$27.01Finish day posting$24.31Current $103.64
------Nov 14, 2008------
Target reduced to $29.50 from $39.50Cdn
FM Price day before:$21.67Finish day posting$19.45Current $103.64
**************
Haytham Hodaly…Salman Partners.........Apr 01, 2011
Target raised to $130.75 from $127.00Cdn (Target Hit)
FM Price day before:$122.36Finish day posting$125.42Current $103.64
------Mar 24, 2011-------
Target reduced to $127.00 from $142.00Cdn
FM Price day before:$128.15Finish day posting$126.85Current $103.64
------Jan 26, 2011------
Upgraded to BUY from SELL
Target raised to $142.00 from $113.00Cdn
FM Price day before:$111.86Finish day posting$119.51Current $103.64
-------Nov 11, 2010--------
Maintained SELL
Target raised to $78.00 from $65.25Cdn
FM Price day before:$91.00Finish day posting$93.80Current $103.64
-------Oct 13, 2010------
Downgraded to SELL from HOLD
Target $65.25Cdn
FM Price day before:$81.47Finish day posting$83.50Current $103.64
-----Sept 10, 2010-----
Downgraded to HOLD from BUY
FM Price day before:$63.22Finish day posting$63.73Current $103.64
-------Aug 31, 2010-----
Target reduced to $65.25 from $73.75Cdn (Target Hit Sept 01, 2010)
FM Price day before:$61.17Finish day posting$61.48Current $103.64
-------Mar 18, 2010--------
Target raised to $98.00 from $93.00Cdn
FM Price day before:$88.66Finish day posting$89.50Current $103.64
------Aug 12, 2009----
Target raised to $69.75 from $69.50Cdn
FM Price day before:$69.26Finish day posting$67.14Current $103.64
------May 19, 2009--------
Downgraded to SELL from HOLD
Target raised to $37.00 from $35.75Cdn
FM Price day before:$45.51Finish day posting$50.00Current $103.64
-------Mar 16, 2009-----
Downgraded to HOLD from TOP PICK
Target reduced to $35.75 from $36.50Cdn
FM Price day before:$36.09Finish day posting$37.60Current $103.64
------Feb 10, 2009-----
Target reduced to $36.50 from $44.50Cdn (Target Hit Mar 16, 2009)
FM Price day before:$31.00Finish day posting$26.96Current $103.64
------Nov 14, 2008------
Target reduced to $44.50 from $76.00Cdn
FM Price day before:$21.67Finish day posting$19.45Current $103.64
**************
Anindya Mohinta ….Citigroup.....Mar 17, 2011
Maintained BUY
Target raised to 10000p from 9000p
FQM Price day before:7,248pFinish day posting 7.560p Current 8,735p
------Jan 31, 2011------
Maintained BUY
Target raised to 9000p from 8000p (Target Hit July 04, 2011)
FQM Price day before:7,369pFinish day posting 7.628p Current 8,735p
-------Dec 08, 2010------
Upgraded to BUY from HOLD
Target raised to 8000p from 6060p (Target Hit Jan 12, 2011)
FQM Price day before:6,650pFinish day posting 6,578p Current 8,735p
**************
Matt Murphy ….UBS.....Mar 16, 2011
Maintained BUY
Target reduced to $152.00 from $160.00Cdn
FM Price day before:$113.71Finish day posting$114.75Current $103.64
***********
Ralph Profiti….Credit Suisse.....Feb 07, 2011
Target raised to $155.00 from $135.00Cdn
FM Price day before:$129.10Finish day posting$133.00Current $103.64
-------Nov 10, 2010-------
Target raised to $115.00 from $110.00Cdn (Target Hit Dec 10, 2010)
FM Price day before:$95.25Finish day posting$91.00Current $103.64
------Aug 12, 2009-------
Target raised to $65.00 from $60.00Cdn
FM Price day before:$69.26Finish day posting$67.14Current $103.64
-------May 14, 2009------
Maintained NEUTRAL
Target raised to $47.00 from $35.00Cdn (Target Hit)
FM Price day before:$45.00Finish day posting$47.20Current $103.64
-------Mar 10, 2009-----
Target raised to $35.00 from $34.00Cdn (Target Hit)
FM Price day before:$33.20Finish day posting$33.50Current $103.64
------Mar 10, 2009--------
New NEUTRAL
Target $34.00Cdn
FM Price day before:$33.66Finish day posting$33.03Current $103.64
**********
Tom Meyer ….Raymond James.....Jan 26, 2011
Maintained STRONG BUY
Target raised to $230.00 from $215.00Cdn
FM Price day before:$111.86Finish day posting$119.51Current $103.64
------Oct 14, 2010------
Maintained STRONG BUY
Target raised to $160.00 from $155.00Cdn
FM Price day before:$83.50Finish day posting$82.51Current $103.64
------Aug 31, 2010--------
Maintained STRONG BUY
Target reduced to $155.00 from $165.00Cdn
FM Price day before:$61.17Finish day posting$61.48Current $103.64
------Mar 18, 2010-----
Maintained STRONG BUY
Target raised to $165.00 from $130.00Cdn
FM Price day before:$88.66Finish day posting$89.50Current $103.64
-----July 23, 2009------
Maintained STRONG BUY
Target raised to $100.00 from $80.00Cdn (Target Hit Jan 18, 2010)
FM Price day before:$65.26Finish day posting$68.65Current $103.64
--------Apr 23, 2009--------
Target raised to $80.00 from $77.00Cdn (Target Hit Nov 23, 2009)
FM Price day before:$38.63Finish day posting$38.62Current $103.64
-----Apr 07, 2009------
Target reduced to $77.00 from $85.00Cdn (Target Hit Aug 04, 2009)
FM Price day before:$39.50Finish day posting$37.13Current $103.64
------Jan 21, 2009---
Target reduced to $85.00 from $95.00Cdn
FM Price day before:$22.00Finish day posting$22.30Current $103.64
-----Oct 16, 2008-----
Target reduced to $95.00 from $160.00Cdn
FM Price day before:$23.67Finish day posting$22.00Current $103.64
**************
David Wargo........GMP.....Jan 26, 2011Target raised to $150.00 from $125.00Cdn
FM Price day before:$111.86Finish day posting$119.51Current $103.64
------Nov 10, 2010-----
Maintained BUY
Target raised to $100.00 from $92.50Cdn (Target Hit Dec 03, 2010)
FM Price day before:$95.25Finish day posting$91.00Current $103.64
------Oct 14, 2010----
Maintained BUY
Target raised to $92.50 from $85.00Cdn (Target Hit Nov 04, 2010)
FM Price day before:$83.50Finish day posting$82.51Current $103.64
*********
Lawrence Smith ….Scotia Capital.....Dec 17, 2010
Target raised to $106.00 from $101.00Cdn
FM Price day before:$110.78Finish day posting$111.23Current $103.64
------Aug 31, 2010-------
Target reduced to $70.00 from $80.00Cdn(Target Hit Sept 20, 2010)
FM Price day before:$61.17Finish day posting$61.48Current $103.64
------Mar 17, 2010-------
Maintained SECTOR PERFORM
Target reduced to $110.00 from $118.00Cdn
FM Price day before:$91.28Finish day posting$88.66Current $103.64
------Jan 11, 2010------
Maintained SECTOR PERFORM
Target raised to $118.00 from $96.00Cdn
FM Price day before:$91.95Finish day posting$94.75Current $103.64
------Nov 12, 2009-------
Maintained SECTOR PERFORM
Target reduced to $101.00 from $102.00Cdn
FM Price day before:$73.82Finish day posting$70.43Current $103.64
-------Oct 15, 2009--------
Maintained SECTOR PERFORM
Target raised to $102.00 from $82.00Cdn
FM Price day before:$71.68Finish day posting$71.85Current $103.64
------Oct 10, 2009-----
Maintained SECTOR PERFORM
Target raised to $82.00 from $79.00Cdn
FM Price day before:$70.43Finish day posting$71.55Current $103.64
--------Aug 20, 2009-------
Maintained SECTOR PERFORM
Target raised to $79.00 from $68.00Cdn (Target Hit Oct 23, 2009)
FM Price day before:$69.59Finish day posting$68.98Current $103.64
-------June 09, 2009----
Target raised to $68.00 from $64.00Cdn (Target Hit July 21, 2009)
FM Price day before:$52.00Finish day posting$51.95Current $103.64
-------May 14, 2009-------
Target reduced to $64.00 from $68.00Cdn (Target Hit July 20, 2009)
FM Price day before:$45.00Finish day posting$47.20Current $103.64
-------May 05, 2009------
Target raised to $68.00 from $52.00Cdn
FM Price day before:$50.90Finish day posting$48.90Current $103.64
--------Apr 06, 2009-------
Target raised to $52.00 from $40.00Cdn (Target Hit May 04, 2009)
FM Price day before:$41.19Finish day posting$39.50Current $103.64
-----Feb 17, 2009-----
Target raised to $40.00 from $25.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
--------Jan 26, 2009-------
Target raised to $25.00 from $17.75Cdn (Target Hit Feb 04, 2009
FM Price day before:$22.10Finish day posting$22.91Current $103.64
------Nov 21, 2008----------
Target reduced to $17.75 from $30.00Cdn (Target Hit Dec 15, 2008)
FM Price day before:$13.63Finish day posting$14.81Current $103.64
-----Nov 14, 2008-----
Target reduced to $30.00 from $40.00Cdn
FM Price day before:$21.67Finish day posting$19.45Current $103.64
**************
Onno Rutten ….UBS.....Nov 18, 2010
Maintained BUY added to "Canadian Key Call" list
Target raised to $115.00 from $101.00Cdn (Target Hit Dec 10, 2010)
FM Price day before:$86.87Finish day posting$91.15Current $103.64
------Oct 19, 2010-----
Maintained BUY
Target raised to $101.00 from $85.00Cdn (Target Hit Dec 07, 2010)
FM Price day before:$82.66Finish day posting$79.70Current $103.64
------Sept 18, 2009-------
Maintained BUY
Target reduced to $85.00 from $100.00 (Target Hit Nov 25, 2009)
FM Price day before:$65.01Finish day posting$63.48Current $103.64
------Apr 24, 2009------
Upgraded to BUY from NEUTRAL
FM Price day before:$38.62Finish day posting$43.47Current $103.64
-------Apr 17, 2009--------
Downgraded to NEUTRAL from BUY
Target raised to $45.00 from $37.00Cdn (Target Hit)
FM Price day before:$42.35Finish day posting$43.50Current $103.64
------Feb 17, 2009----
Target raised to $37.00 from $28.00Cdn (Target Hit Mar 16, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
-------Oct 31, 2008------
Target reduced to $32.50 from $50.00Cdn (Target Hit Feb 18, 2009)
FM Price day before:$27.25Finish day posting$25.40Current $103.64
**************
Ravi Ephrem ….Morgan Stanley.....Oct 05, 2010
Maintained OVERWEIGHT
Target raised to 5250p from 4810p (Target Hit Oct 13, 2010)
FQM Price day before:4900pFinish day posting 5005p Current 8,735p
------Mar 31, 2010-----
Maintained OVERWEIGHT
Target reduced to $101.00 from $95.00Cdn
FM Price day before:$86.00Finish day posting$83.57Current $103.64
***********
David Davidson…Paradigm..........Aug 31, 2010
Maintained BUY
Target reduced to $69.00 from $75.00Cdn (Target Hit Sept 20, 2010)
FM Price day before:$61.17Finish day posting$61.48Current $103.64
------Apr 20, 2010-----
Target $94.00
Upgraded to BUY from HOLD
FM Price day before:$79.96Finish day posting$81.26Current $103.64
-----Mar 18, 2010-----
Target raised to $94.00 from $77.00Cdn
FM Price day before:$88.66Finish day posting$89.50Current $103.64
------Nov 12, 2009--
Maintained HOLD
Target raised to $73.00 from $62.00Cdn
FM Price day before:$73.82Finish day posting$70.43Current $103.64
------Aug 12, 2009------
Maintained HOLD
Target raised to $62.00 from $55.00Cdn (Target Hit Aug 31, 2009)
FM Price day before:$69.26Finish day posting$67.14Current $103.64
------June 24, 2009------
Maintained HOLD
Target raised to $55.00 from $41.25Cdn (Target Hit June 26, 2009)
FM Price day before:$50.64Finish day posting$51.82Current $103.64
-------May 14, 2009-------
Maintained HOLD
Target raised to $41.25 from $36.00Cdn
FM Price day before:$45.00Finish day posting$47.20Current $103.64
------Mar 25, 2009--------
Downgraded to HOLD from BUY
FM Price day before:$36.50Finish day posting$36.25Current $103.64
**********
David Radclyffe….BMO Capital Markets.....May 25, 2010
Downgraded to MARKET PERFORM from OUTPERFORM
Target reduced to $65.00 from $110.00Cdn (Target Hit Sept 01, 2010)
FM Price day before:$62.79Finish day posting$55.36Current $103.64
-----Oct 16, 2009--------
Upgraded to OUTPERFORM from MARKET PERFORM
Target raised to $90.00 from $65.00Cdn
FM Price day before:$71.85Finish day posting$71.90Current $103.64
-------Aug 12, 2009----------
Downgraded to MARKET PERFORM from OUTPERFORM
FM Price day before:$69.26Finish day posting$67.14Current $103.64
------May 14, 2009-----------
Maintained OUTPERFORM
Target raised to $55.00 from $45.00Cdn (Target Hit June 10, 2009)
FM Price day before:$45.00Finish day posting$47.20Current $103.64
------Apr 07, 2009------
Maintained OUTPERFORM
Target raised to $45.00 from $40.00Cdn (Target Hit Apr 30, 2009)
FM Price day before:$39.50Finish day posting$37.13Current $103.64
------Mar 10, 2009-------
Maintained OUTPERFORM
Target raised to $40.00 from $38.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$33.20Finish day posting$33.50Current $103.64
-------Feb 18, 2009----
Maintained OUTPERFORM
Target raised to $38.00 from $25.00Cdn (Target Hit Mar 16, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
-------Dec 16, 2008---------
New OUTPERFORM
Target $25.00 (Target Hit Jan 06, 2009)
FM Price day before:$17.10Finish day posting$17.90Current $103.64
**********
Pierre Vaillantcourt ….Macquarie Capital Markets....Mar 17, 2010
Maintained OUTPERFORM
Target raised to $110.00 from $95.00Cdn
FM Price day before:$91.28Finish day posting$88.66Current $103.64
------Aug 12, 2009------
Maintained OUTPERFORM
Target raised to $90.00 from $62.00Cdn
FM Price day before:$69.26Finish day posting$67.14Current $103.64
------June 08, 2009--------
Target raised to $62.00 from $54.00Cdn (Target Hit July 17, 2009)
FM Price day before:$52.92Finish day posting$52.00Current $103.64
**************
Ian Howat ….Bank National.....Mar 17, 2010
Target reduced to $100.00 from $95.00Cdn
FM Price day before:$91.28Finish day posting$88.66Current $103.64
------Jan 27, 2010-------
Maintained SECTOR PERFORM
Target raised to $95.00 from $88.00Cdn
FM Price day before:$84.82Finish day posting$80.94Current $103.64
------Nov 12, 2009-----
Maintained SECTOR PERFORM
Target raised to $85.00 from $74.00Cdn (Target Hit Nov 25, 2009)
FM Price day before:$73.82Finish day posting$70.43Current $103.64
--------Aug 12, 2009------
Target raised to $74.00 from $62.00Cdn (Target Hit Aug 25, 2009)
FM Price day before:$69.26Finish day posting$67.14Current $103.64
------June 19, 2009----
Maintained SECTOR PERFORM
Target raised to $62.00 from $55.00Cdn (Target Hit July 17, 2009)
FM Price day before:$52.00Finish day posting$55.23Current $103.64
------May 14, 2009------
Maintained SECTOR PERFORM
Target raised to $55.00 from $42.00Cdn (Target Hit June 10, 2009)
FM Price day before:$45.00Finish day posting$47.20Current $103.64
------Mar 31, 2009-----
Maintained SECTOR PERFORM
Target raised to $42.00 from $39.00Cdn (Target Hit Apr 13, 2009)
FM Price day before:$33.50Finish day posting$35.50Current $103.64
-----Mar 10, 2009------
Downgraded to SECTOR PERFORM from OUTPERFORM
FM Price day before:$33.20Finish day posting$33.50Current $103.64
-----Feb 18, 2009-----
Target raised to $39.00 from $36.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
------Nov 28, 2008------
Target reduced to $36.00 from $50.00Cdn (Target Hit Mar 13, 2009)
FM Price day before:$18.93Finish day posting$18.30Current $103.64
-----Nov 14, 2008-----
Target reduced to $50.00 from $56.00Cdn
FM Price day before:$21.67Finish day posting$19.45Current $103.64
--------Oct 20, 2008-------
Target reduced to $56.00 from $97.00Cdn
FM Price day before:$26.01Finish day posting$28.83Current $103.64
**************
Mike Stuart ….Nomura.....Jan 27, 2010
Target raised to $94.00 from $80.00Cdn
FM Price day before:$86.41Finish day posting$88.00Current $103.64
***********
John H. Bergtheil ….Citigroup.....Nov 05, 2009
Maintained HOLD
Target raised to 4675p from 4400p
FQM Price day before:4229pFinish day posting 4186.21p Current 8,735p
------Sept 17, 2009-----
Downgraded to HOLD from BUY
Target raised to 4400p from 3750p (Target Hit Oct 22, 2009)
FQM Price day before:4028pFinish day posting 3871p Current 8,735p
------July 07, 2009-----
Upgraded to BUY from HOLD
Target raised to 3750p from 3150p (Target Hit July 22, 2009)
FQM Price day before:2849pFinish day posting 2880p Current 8,735p
------Feb 17, 2009-------
Maintained HOLD
Target raised to 1755p from 1290p
FM Price day before:$31.56Finish day posting$31.80Current $103.64
FQM Price day before:1754pFinish day posting 1728p Current 8,735p
------Jan 14, 2008------
Downgraded to HOLD from BUY
Target reduced to 1290p from 1500p (Target Hit Feb 03, 2009)
FM Price day before:$21.80Finish day posting$22.50Current $103.64
FQM Price day before:1109pFinish day posting 1218p Current 8,735p
**************
Jordi Dominguez ….HSBC.....Oct 27, 2009
Upgraded to NEUTRAL from UNDERWEIGHT
FM Price day before:$77.70Finish day posting$74.70Current $103.64
------June 03, 2009------
Downgraded to UNDERWEIGHT from NEUTRAL
FM Price day before:$52.61Finish day posting$50.49Current $103.64
**************
Nawojka Wachowiak ............Genuity….Oct 16, 2009
Maintained HOLD
Target raised to $83.00 from $74.00Cdn (Target Hit Nov 25, 2009)
FM Price day before:$71.85Finish day posting$71.90Current $103.64
-------July 15, 2009--------
Maintained BUY
Target raised to $62.00 from $56.00Cdn (Target Hit July 17, 2009)
FM Price day before:$54.48Finish day posting$57.93Current $103.64
------May 26, 2009-------
Maintained BUY
Target raised to $56.00 from $53.00Cdn (Target Hit June 10, 2009)
FM Price day before:$48.50Finish day posting$49.00Current $103.64
--------May 14, 2009-----
Maintained BUY
Target raised to $53.00 from $49.00Cdn (Target Hit June 02, 2009)
FM Price day before:$45.00Finish day posting$47.20Current $103.64
-------Apr 16, 2009-------
Maintained BUY
Target raised to $49.00 from $41.00Cdn (Target Hit May 04, 2009)
FM Price day before:$43.55Finish day posting$42.35Current $103.64
------Mar 17, 2009-----
New BUY
Target $41.00Cdn (Target Hit Apr 03, 2009)
FM Price day before:$37.60Finish day posting$37.20Current $103.64
***********
Mike Stuart ….Numis Securities.....Sept 18, 2009
Downgraded to HOLD from ADD
FM Price day before:$70.35Finish day posting$64.25Current $103.64
**************
Cliff Hale-Sanders ….CIBC World Markets.....May 29, 2009
Maintained SECTOR PERFORM
Target raised to $62.00 from $48.00Cdn (Target Hit July 17, 2009)
FM Price day before:$47.20Finish day posting$48.64Current $103.64
-------Apr 09, 2009--------
Maintained SECTOR PERFORM
Target raised to $48.00 from $38.00Cdn (Target Hit May 01, 2009)
FM Price day before:$38.37Finish day posting$41.16Current $103.64
-------Mar 25, 2009------
Downgraded to SECTOR PERFORM from OUTPERFORM
Target reduced to $38.00 from $40.00Cdn
FM Price day before:$36.50Finish day posting$36.25Current $103.64
-------Mar 10, 2009------
Target reduced to $40.00 from $43.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$33.20Finish day posting$33.50Current $103.64
------Feb 17, 2009--------
Target raised to $43.00 from $31.00Cdn
FM Price day before:$31.56Finish day posting$31.80Current $103.64
---------Jan 07, 2009-------
Target reduced to $31.00 from $40.00Cdn (Target Hit Feb 06, 2009)
FM Price day before:$27.01Finish day posting$24.31Current $103.64
-------Oct 29, 2008-------
Target reduced to $40.00 from $50.00Cdn
FM Price day before:$22.60Finish day posting$25.00Current $103.64
**************
Justin Reid….Cormark.....Mar 25, 2009
Downgraded to MARKET PERFORM from BUY
FM Price day before:$36.25Finish day posting$37.43Current $103.64
-----Feb 17, 2009----
Target raised to $39.00 from $38.00Cdn (Target Hit Mar 19, 2009)
FM Price day before:$31.56Finish day posting$31.80Current $103.64
---------Oct 29, 2008--------
Target reduced to $38.00 from $70.00Cdn(Target Hit Mar 16, 2009)
FM Price day before:$22.60Finish day posting$25.00Current $103.64
**************
First Quantum Minerals Ltd
Short Positions
Date Outstanding Price Range
Feb 16 to 28, 2011 1.36million $132.15 to $111.61
Feb 01 to 15, 2011 1.46million $138.25 to $118.00
Jan 16 to 31, 2010 1.95million $124.38 to $110.56
Jan 01 to 15, 2010 2.29million $126.35 to $107.36
Dec 16 to 31, 2010 1.56million $112.80 to $106.31
Dec 01 to 15, 2010 2.27million $120.54 to $91.55
Nov 16 to 30, 2010 1.79million $93.39 to $84.14
Nov 01 to 15, 2010 2.16million $98.50 to $87.50
Oct 16 to 31, 2010 1.10million $90.40 to $77.80
Oct 01 to 15, 2010 881,647 $85.20 to $78.58
Sept 16 to 30, 2010 1,356,641 $78.67 to $64.06
Sept 01 to 15, 2010 1,336,202 $67.50 to $62.24
Aug 16 to 31, 2010 816,195 $64.72 to $54.97
Aug 01 to 15, 2010 731,747 $68.37 to $58.66
July 16 to 30, 2010 694,077 $72.10 to $59.00
July 01 to 15, 2010 832,971 $65.93 to $53.30
June 16 to 30, 2010 764,618 $66.10 to $53.66
June 01 to 15, 2010 924,379 $60.37 to $48.20
May 16 to 31, 2010 1,172,737 $69.25 to $51.80
May 01 to 15, 2010 956,888 $78.46 to $64.79
Apr 16 to 30, 2010 921,472 $83.75 to $75.32
Apr 01 to 15, 2010 620,661 $87.50 to $78.60
Mar 16 to 31, 2010 911,625 $92.82 to $83.50
Mar 01 to 15, 2010 859,338 $88.66 to $79.26
Feb 16 to 28, 2010 813,570 $82.47 to $74.83
Feb 01 to 15, 2010 531,322 $81.93 to $66.40
Jan 16 to 31, 2010 497,800 $100.32 to $76.49
Jan 01 to 15, 2010 753,893 $98.55 to $80.81
Dec 16 to 31, 2009 419,604 $82.43 to $77.93
Dec 01 to 15, 2009 440,114 $84.50 to $72.57
Nov 16 to 30, 2009 444,862 $85.25 to $72.83
Nov 01 to 15, 2009 449,431 $76.40 to $70.43
Oct 16 to 30, 2009 904,330 $79.40 to $68.85
Oct 01 to 15, 2009 683,380 $73.15 to $65.01
Sept 16 to 30, 2009 626,902 $75.92 to $62.18
Sept 01 to 15, 2009 622,896 $75.82 to $63.11
Aug 17 to 31, 2009 551,935 $74.49 to $61.00
Aug 04 to 14, 2009 599,135 $77.07 to $66.70
July 16 to 31, 2009 707,416 $73.29 to $57.17
July 02 to 15, 2009 713,746 $58.28 to $49.74
June 16 to 30, 2009 876,371 $56.91 to $49.26
June 01 to 15, 2009 838,688 $59.21 to $50.01
May 19 to 29, 2009 472,220 $51.99 to $45.25
May 01 to 15, 2009 487,157 $57.24 to $44.50
Apr 16 to 30, 2009 302,447 $47.39 to $37.10
Apr 01 to 15, 2009 515,008 $44.70 to $34.02
Mar 16 to 31, 2009 743,273 $43.47 to $32.50
Mar 13, 2009 283,664 $36.20 to $29.19
Feb 27, 2009 353,200 $35.97 to $30.00
Feb 13, 2009 484,797 $32.47 to $21.15
Jan 31, 2009 705,160 $24.65 to $21.01
Jan 15, 2009 807,887 $27.01 to $17.59
Dec 31, 2008 843,977 $19.02 to $16.76
Dec 15, 2008 2,168,164 $18.50 to $13.01
Nov 28, 2008 2,538,687 $20.89 to $12.75
Nov 14, 2008 1,996,691 $29.00 to $18.74
Oct 31, 2008 1,169,136 $29.70 to $16.38
Oct 15, 2008 467,187 $39.99 to $20.00