First Quantum Rises to Start Off 2022

Market Cap: $19.5B USD

From the Q3 Report:

  • On track to achieve 2021 copper production of 800,000-835,000 tonnes at C1 costs $1.25-1.35 per lb; AISC $1.80-1.95 per lb
  • Total comparative EBITDA of $886 million was 38% higher than Q3 2020
  • 33% increase in the realized copper price

FSA Data:

  • CFIRR improved to 6.4% in trailing four quarters from 1.5% in fiscal 2019
  • $35B of invested capital as of Q3, 2021
  • Intrinsic value of $40.78 USD vs. $28.20 trading price represents 44% upside
  • Added First Quantum to model portfolios on Sep 30, 2020 at $8.78 representing a 221% gain

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