Deutsche Bank Downgrades Thompson Creek Metals (TC) to Sell
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Rating Summary:
1 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Deutsche Bank downgraded Thompson Creek Metals (NYSE: TC) from Hold to Sell with a price target of $0.70 (from $1.50).
Analyst Jorge Beristain said, "We downgrade Thompson Creek to a Sell (from Hold) on weak copper and moly prices, highly levered Balance Sheet, further spending needs (secondary crusher) and lack of expected near-term company catalysts. As a result, we reduced PT multiple to 0.7x (from 1.0x prior) to account for the potential downside risk. We now rate Thompson Creek a Sell on downside of 15% on revised PT of $0.7 (cut from $1.5 prior)"
For an analyst ratings summary and ratings history on Thompson Creek Metals click here. For more ratings news on Thompson Creek Metals click here.
Shares of Thompson Creek Metals closed at $0.85 yesterday.
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