FNX MINING (FNXMF $24.90 5-12-08, rated Overweight) PRICE TARGET CUT TO $40 FROM $55; LONG-TERM EARNINGS ESTIMATES ROUGHLY CUT IN HALF DUE TO COST ESCALATIONS AND LOWER THAN EXPECTED TONS AND GRADES May 13, 2008

FNX MINING (FNXMF $24.90 5-12-08, rated Overweight) PRICE TARGET CUT TO $40
FROM $55; LONG-TERM EARNINGS ESTIMATES ROUGHLY CUT IN HALF DUE TO
COST ESCALATIONS AND LOWER THAN EXPECTED TONS AND GRADES May 13, 2008