Tuesday’s analyst upgrades and downgrades

First Quantum Minerals and Air Canada are among stocks featured

Shares in First Quantum plunged 28.4% on Monday in reaction to the news that makes the company’s ability to continue to operate in the country uncertain.

“Given uncertainty and headline risks associated with proposed referendum on Cobre Panama, we suspect share price weakness over the coming weeks until markets have more clarity on a pathway forward,” Mr. Nagle said in a note to clients.

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First Quantum Minerals Faces Uncertainty as Panama Announces ReferendumThe president of Panama has announced a referendum on a law that could impact First Quantum Minerals' Cobre Panama mine. The government's decision comes after protests demanding the contract with the company be rescinded.
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Panama president calls for vote on contentious First Quantum mining contractExplore stories from Atlantic Canada.
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First Quantum faces uncertainty as Panamanian president calls referendum on Cobre Panama contract‘The result will be binding,’ says Laurentino Cortizo of the Dec. 17 vote
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