BUZZ-First Quantum Minerals Ltd: Goldman Sachs cuts price target

Tue Jul 7, 2015 3:40pm EDT
 
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** Nickel miners' shares down after Goldman Sachs cuts price targets, citing lower nickel prices

** First Quantum Minerals down 5.6 pct at C$14.95; Lundin Mining down 3 pct at C$4.84

** Analysts cut price target on First Quantum to C$21 from $C22; Lundin Mining price target to C$5.60 from C$6.50

** "We believe that low nickel prices have reached within 5%-10% of a true "cost" floor as 40%-50% of global supply is not making a profit," analysts write

** S&P/TSX capped diversified metals and mining index down 2.09 pct