11:11 AM EDT, 06/23/2025 (MT Newswires) -- (Adds analyst comments and updates shares.)

First Quantum Minerals ( FQVLF ) on Monday said an employee at its Trident project in Zambia died following an accident involving a dump truck at the Sentinel pit.

The site of the accident was immediately secured and operations in the area have been temporarily suspended and will resume once it is determined that it can be done safely, the company said. An internal investigation into the accident is underway.

National Bank of Canada on Monday kept an outperform rating and C$24.00 price target on the shares of First Quantum.

"Sentinel/Enterprise accounts for ~45% of our modeled 2025 production and 17% of our project NAV," said the bank.

It further stated it doesn't anticipate any material impact to operations while the investigation is ongoing.

The bank noted it remains positive on the outlook for several near-term catalysts including non-core asset sales, approval of the company's P&SM plan at Cobre Panama and improved operating outlook "given stronger production at Kansanshi throughout the second half of 2025 into 2026."

The company's shares were last seen up $0.18 to $21.54 on the Toronto Stock Exchange.

Price: 21.55, Change: +0.19, Percent Change: +0.89