First Quantum Minerals Ltd.’s copper growth profile is one of the most attractive in the global mining sector, both for investors and potential acquirers, said TD Newcrest analyst Greg Barnes. The company appears set to become the next major global copper producer with output of one million tonnes annually by 2017, more than three times this year’s expected output, even though there are political and operational risks, he said.
Upside: Mr. Barnes upgraded First Quantum to an “action list buy” rating and hiked his 12-month target to $150 from $122.
Related: UBS puts First Quantum on list of seven top stock picks