Head Scratcher of a Downgrade, on First Quantum, by BMOtoday
raised FM target from $17 to $19
Downgraded from Outperform to Market Perform (based on valuation)
So how did FM respond to the downgrade ?
Up 6.5% or $1.25 (to 20.70) this AM - by far the biggest mover in the copper mining universe
go figure, eh
I guess what the market is telling us, is that Copper is so strong, that nobody gives a Flying F what any analyst has to say about copper stocks...just go with the flow