Morningstar - First Quantum Minerals Ltd. (FM) First Quantum Shares Soar on Speculation of Rio Tinto Acquisition; We Maintain Our CAD 7 FVE

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Morningstar

Seth Goldstein

First Quantum Shares Soar on Speculation of Rio Tinto Acquisition; We Maintain Our CAD 7 FVE

On June 29, First Quantum shares were trading up roughly 8% at the time of writing to CAD 19.66 per share on speculation that Rio Tinto may try to acquire the company. Reuters reported that Rio Tinto is looking to acquire a company with a high-quality copper asset and would be willing to pay a 30% to 40% premium over the current stock price. While First Quantum was not specifically named as an acquisition target, the company's Cobre Panama mine that is currently under construction would fulfill ...

29/06/2018 13 EN

Underlying

First Quantum Minerals Ltd.

First Quantum Minerals is engaged in the production of copper, nickel, gold, zinc, platinum-group elements and acid, and related activities including exploration and development. Co. has operating mines located in Zambia, Australia, Finland, Turkey, Spain and Mauritania. Co. is developing the Trident project in Zambia, the Cobre Panama copper project in Panama, exploring the Haquira copper deposit in Peru and the Taca Taca copper-gold-molybdenum porphyry deposit in Argentina. Co.'s operating segments are individual mine development projects or mine operations. The Corporate and Other segment evaluates and acquires new mineral properties and includes Co.'s metal marketing division.

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CA3359341052 Toronto Stock Exchange Canada

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Seth Goldstein

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First Quantum Shares Soar on Speculation of Rio Tinto Acquisition; We Maintain Our CAD 7 FVE

First Quantum Minerals Announces Pricing and Upsizing of Senior Notes Offering

First Quantum Minerals Announces $1,350 Million Senior Notes Offering

First Quantum Minerals Reports Fourth Quarter 2025 Results

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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