First quantum is a mineral and metal company based in Canada and operates two mines and develops 5 projects around the world. The ongoing projects should allow First Quantum Mineral to triple annual production in the next 3 years, due to the nickel emerging production which first extraction is expected in 2012.

From a fundamental viewpoint, the company observed a rapid growth. Turnover is expected at 3.26 billion Canadian dollars for 2012, 26% up from last year. With a net margin up from 40% to 43% for 2012, net result should be at 1.4 billion Canadian dollars and BNA would double at CAD 3.72. Thomson-Reuters consensus is confident with 9 analysts at “Hold”, 8 at “Accumulated” and 3 at “Buy”. Average price target is fixed at USD 26.1, representing a 37% growth potential.

Technically the stock presents a consolidation phase in a range includes between CAD 17 and CAD 18.8. The ongoing sessions could be the crossing point of the CAD 18.82 short-term resistance. The 20-days moving average comes in support and could bring the stock on the way to the CAD 22.5 area, level of April 2012.

Investors could take a buy position on the stock after the mid-term resistance crossing with an objective at CAD 22.5. A stop loss will be engaged at CAD 18.5.