• Scotiabank maintains its "Sector Perform" rating for First Quantum Minerals Ltd. (OTC:FQVLF), with a stock price of $28.62.
• The company reports strong operational performance in Zambia and completes the Kansanshi S3 Expansion under budget.
• Despite a slight decrease in stock price, Scotiabank raises the price target for First Quantum, reflecting confidence in the company's future prospects.

First Quantum Minerals Ltd. (OTC:FQVLF) is a prominent player in the mining industry, focusing on copper, nickel, and gold production. The company operates globally, with significant projects in Zambia and Panama. On January 16, 2026, Scotiabank maintained its "Sector Perform" rating for FQVLF, advising investors to hold their positions. At this time, the stock price was $28.62.

Scotiabank's decision to maintain its rating comes as First Quantum reports strong operational performance in its Zambian operations for 2025. The company achieved commercial production of the Kansanshi S3 Expansion, marking its sixth successful large-scale SAG mill processing train. This project was completed under budget, highlighting First Quantum's project development expertise.

The stock price of FQVLF reflects a decrease of approximately 3.19%, with a change of $0.94. The price fluctuated between $28.32 and $28.90 during the day. Despite this, Scotiabank raised the price target for First Quantum to C$42 from C$41, indicating confidence in the company's future prospects.

First Quantum's market capitalization stands at approximately $23.69 billion, with a trading volume of 6,503 shares on the OTC exchange. The stock has seen a 52-week high of $30.06 and a low of $10.18, showcasing its volatility. The company's updates on the Cobre Panamá mine and Taca Taca project are also noteworthy for investors.