Murphy's outlook suggests that the company's efforts to overcome challenges in Panama and pursue growth in South America could lead to substantial long-term benefits. First Quantum Minerals is in the process of navigating discussions around CP, and BMO Capital anticipates that there will be some volatility as these talks progress. However, the firm's stance indicates a belief that the company's stock has a significant upside potential. The Outperform rating and the Cdn$23.00 price target set by BMO Capital Markets reflect a positive view on First Quantum Minerals' ability to address its current challenges and capitalize on growth opportunities in the future. Murphy's comments underscore the firm's confidence in the company's strategic initiatives and its potential for success. In other recent news, First Quantum Minerals has faced a downgrade from Canaccord Genuity, which shifted its rating from "Buy" to "Hold."