This Canadian Copper Giant is Missing Best of Metal's Surge
- First Quantum hedges to de-risk development of Cobre Panama
- Stock underperformance may make it a takeover target: Gait
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As copper producers from Freeport-McMoRan Inc. to BHP Billiton Ltd. ponder what to do with the windfall from surging prices, First Quantum Minerals Ltd. has no such dilemma.
Unlike most of its peers, First Quantum’s copper sales are fully hedged -- at an expected average price of $2.37 a pound for the second half of the year. That means it’s largely watching from the sidelines as the metal surges above $2.90 for the first time in more than two years.