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First Quantum Minerals (FM-T)

ON STOCKCHASE SINCE May 2001

copper

integrated mines

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First Quantum Minerals
FM-T

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COMMENT	First Quantum Minerals(FM-T) October 17, 2018 They've put their troubles behind them. Can't predict their near future, but in a year or two there could be a tailwind for commodity prices. They are getting earnings from some of their earnings now which is reducing their debt. integrated mines 0 0 0 0 0 0 comments	They've put their troubles behind them. Can't predict their near future, but in a year or two there could be a tailwind for commodity prices. They are getting earnings from some of their earnings now which is reducing their debt. integrated mines 0 0 0 0 0 0 comments Chris Stuchberr Portfolio , Wellington-Altus Pri... Price $13.580 Owned Unknown

PAST TOP PICK	First Quantum Minerals(FM-T) September 17, 2018 SHORT (A Top Pick Jun 28/17, Down 42%) It's been a wild ride. It has come off more recently. The thesis has not changed on this stock. It has terrible valuation with virtually no return on equity. It missed on the most recent quarter. It is not cheap and a highly volatile stock. integrated mines 0 0 0 0 0 0 comments	SHORT (A Top Pick Jun 28/17, Down 42%) It's been a wild ride. It has come off more recently. The thesis has not changed on this stock. It has terrible valuation with virtually no return on equity. It missed on the most recent quarter. It is not cheap and a highly volatile stock. integrated mines 0 0 0 0 0 0 comments Jason Mann CIO & Co-F, Edgehill Patners... Price $15.280 Owned Yes
COMMENT	First Quantum Minerals(FM-T) July 25, 2017 An exceptionally volatile stock. It produces copper in dangerous parts of the world. Lots of companies are having problems these days with governments, not getting good enough deals. You have to be really careful. This is going to track the Chinese stock market pretty carefully. The company is well-run. Has a lot of debt. If you are going to invest in stocks like this, make sure it is the appropriate amount in your portfolio and don’t own too much. integrated mines 0 0 0 0 0 0 comments	An exceptionally volatile stock. It produces copper in dangerous parts of the world. Lots of companies are having problems these days with governments, not getting good enough deals. You have to be really careful. This is going to track the Chinese stock market pretty carefully. The company is well-run. Has a lot of debt. If you are going to invest in stocks like this, make sure it is the appropriate amount in your portfolio and don’t own too much. integrated mines 0 0 0 0 0 0 comments John O'Connell, Chairman a, Davis Rea... Price $14.000 Owned Unknown
BUY	First Quantum Minerals(FM-T) July 18, 2017 First Quantum (FM-T) or Hudbay (HBM-T)? He tries to only focus in areas of the market that are strong technically and fundamentally. Also, he always looks for new groups of leadership to emerge. In the last few weeks, despite the fact that commodities in general have been spotty, the metals group has started to perform better. Globally, things are getting better economically, but in addition, the US$ has really taken a tumble. When that happens, it tends to be good for emerging markets and good for commodity prices. The 3 metal stocks that stand out would be Hudbay, First Quantum, and Lundin (LUN-T). All 3 look very attractive. He would be OK with all 3. integrated mines 0 0 0 0 0 0 comments	First Quantum (FM-T) or Hudbay (HBM-T)? He tries to only focus in areas of the market that are strong technically and fundamentally. Also, he always looks for new groups of leadership to emerge. In the last few weeks, despite the fact that commodities in general have been spotty, the metals group has started to perform better. Globally, things are getting better economically, but in addition, the US$ has really taken a tumble. When that happens, it tends to be good for emerging markets and good for commodity prices. The 3 metal stocks that stand out would be Hudbay, First Quantum, and Lundin (LUN-T). All 3 look very attractive. He would be OK with all 3. integrated mines 0 0 0 0 0 0 comments David Burrows President , Barometer Capital Ma... Price $13.420 Owned Unknown
COMMENT	First Quantum Minerals(FM-T) July 5, 2017 A good Short? The short answer is yes, and the long answer is yes, but he would advise against doing it. To do it, he would put a Long against it such as Lundin Mining (LUN-T) or Hudbay Minerals (HBM-T). They have an awful lot of debt and are very concentrated in Zambia. There are execution risks on a very large mine they are building in Panama. With a lot of debt attached, this is a very tough place to be. integrated mines 0 0 0 0 0 0 comments	A good Short? The short answer is yes, and the long answer is yes, but he would advise against doing it. To do it, he would put a Long against it such as Lundin Mining (LUN-T) or Hudbay Minerals (HBM-T). They have an awful lot of debt and are very concentrated in Zambia. There are execution risks on a very large mine they are building in Panama. With a lot of debt attached, this is a very tough place to be. integrated mines 0 0 0 0 0 0 comments Daniel Lloyd Portfolio , Forge First Asset Ma... Price $11.460 Owned No
TOP PICK	First Quantum Minerals(FM-T) June 28, 2017 *SHORT* This is in line with his concern that the cyclical value may have peaked and may not be recovering in this cycle. Despite having a really good run from July to the election, this has really trended down. Their problem is that they have always had a lot of debt. Expensive on an earnings basis, trading at 43X trailing. A really low ROE. Highly volatile. (Analysts’ price target is $17.63.) integrated mines 0 0 0 0 0 0 comments	*SHORT* This is in line with his concern that the cyclical value may have peaked and may not be recovering in this cycle. Despite having a really good run from July to the election, this has really trended down. Their problem is that they have always had a lot of debt. Expensive on an earnings basis, trading at 43X trailing. A really low ROE. Highly volatile. (Analysts’ price target is $17.63.) integrated mines 0 0 0 0 0 0 comments Jason Mann CIO & Co-F, Edgehill Patners... Price $10.880 Owned Yes
COMMENT	First Quantum Minerals(FM-T) May 15, 2017 Copper had moved up earlier in the year and kind of went sideways for a while. This is the levered one. It is the jurisdiction that is the problem for anyone that is nervous. However, what you get is the best liquidity and the best leverage. If you really like copper, and can stomach the risks, then this one should move. He prefers Hudbay (HBM-T). integrated mines 0 0 0 0 0 0 comments	Copper had moved up earlier in the year and kind of went sideways for a while. This is the levered one. It is the jurisdiction that is the problem for anyone that is nervous. However, what you get is the best liquidity and the best leverage. If you really like copper, and can stomach the risks, then this one should move. He prefers Hudbay (HBM-T). integrated mines 0 0 0 0 0 0 comments Bruce Campbell President, Campbell and Lee Inv... Price $12.200 Owned No
COMMENT	First Quantum Minerals(FM-T) May 12, 2017 Thinks copper will do very well 3 or 4 years out, but it depends on your patience and willingness to endure some short-term pain with regards to their balance sheet, which is still stretched. integrated mines 0 0 0 0 0 0 comments	Thinks copper will do very well 3 or 4 years out, but it depends on your patience and willingness to endure some short-term pain with regards to their balance sheet, which is still stretched. integrated mines 0 0 0 0 0 0 comments Rick Rule Pres. & C, Sprott USA... Price $12.230 Owned Unknown
COMMENT	First Quantum Minerals(FM-T) March 7, 2017 Their Cobre copper project in the Panama will make this company one of the largest copper miners in the world. They have to get through the construction. They have debt on the balance sheet, which makes things a little precarious. He would probably stay on the sidelines. integrated mines 0 0 0 0 0 0 comments	Their Cobre copper project in the Panama will make this company one of the largest copper miners in the world. They have to get through the construction. They have debt on the balance sheet, which makes things a little precarious. He would probably stay on the sidelines. integrated mines 0 0 0 0 0 0 comments Robert Cohen B. Vice Presi, Dynamic Funds... Price $14.260 Owned Unknown
DON'T BUY	First Quantum Minerals(FM-T) January 9, 2017 He is not short this one anymore. He thinks it is fully priced, however. They have quite a bit of debt and are building an asset in Panama. There is political risk in Zambia. integrated mines 0 0 0 0 0 0 comments	He is not short this one anymore. He thinks it is fully priced, however. They have quite a bit of debt and are building an asset in Panama. There is political risk in Zambia. integrated mines 0 0 0 0 0 0 comments Daniel Lloyd Portfolio , Forge First Asset Ma... Price $14.420 Owned No
COMMENT	First Quantum Minerals(FM-T) November 30, 2016 Base metals, primarily in countries that he wouldn’t necessarily take vacations in. Higher risk environments, but from that you get higher returns. He prefers more stable jurisdictions. The company has decent assets that are generating cash flow. Also, they got $1 billion in cash on a recent deal which gives them some flexibility. integrated mines 0 0 0 0 0 0 comments	Base metals, primarily in countries that he wouldn’t necessarily take vacations in. Higher risk environments, but from that you get higher returns. He prefers more stable jurisdictions. The company has decent assets that are generating cash flow. Also, they got $1 billion in cash on a recent deal which gives them some flexibility. integrated mines 0 0 0 0 0 0 comments Lyle Stein Sr. Portfo, Vestcap Investment M... Price $15.340 Owned No
BUY	First Quantum Minerals(FM-T) November 28, 2016 (Market Call Minute.) You want to be in materials, and this is one of the leaders. integrated mines 0 0 0 0 0 0 comments	(Market Call Minute.) You want to be in materials, and this is one of the leaders. integrated mines 0 0 0 0 0 0 comments John Stephenson President , Stephenson & Company... Price $15.740 Owned Unknown
BUY	First Quantum Minerals(FM-T) November 10, 2016 It has risen to the forefront to be a go to. They are global. Their primary exposure is to copper and is a leveraged way to play a recovery in copper. Keep in mind it is leveraged so it will go the other way just as far if copper drops. integrated mines 0 0 0 0 0 0 comments	It has risen to the forefront to be a go to. They are global. Their primary exposure is to copper and is a leveraged way to play a recovery in copper. Keep in mind it is leveraged so it will go the other way just as far if copper drops. integrated mines 0 0 0 0 0 0 comments Gerard Ferguson CEO & Port, Jemekk Capital Manag... Price $14.970 Owned Unknown
DON'T BUY	First Quantum Minerals(FM-T) September 15, 2016 He is short the stock. He would suggest the fundamentals of the copper market are bearish. They have a leveraged balance sheet. It is expensive here. integrated mines 0 0 0 0 0 0 comments	He is short the stock. He would suggest the fundamentals of the copper market are bearish. They have a leveraged balance sheet. It is expensive here. integrated mines 0 0 0 0 0 0 comments Daniel Lloyd Portfolio , Forge First Asset Ma... Price $10.400 Owned Yes
COMMENT	First Quantum Minerals(FM-T) August 23, 2016 First Quantum (FM-T) or Teck Resources (TCK.B-T)? His view is definitely more constructive on Teck. integrated mines 0 0 0 0 0 0 comments	First Quantum (FM-T) or Teck Resources (TCK.B-T)? His view is definitely more constructive on Teck. integrated mines 0 0 0 0 0 0 comments Zachary Curry Chief Oper, Davis-Rea Ltd.... Price $12.050 Owned No

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