Deutsche Bank Raises Price Target On Thompson Creek (TC) to $18

January 11, 2011 12:41 PM EST
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Price: $0.15 --0%

Rating Summary:
    3 Buy, 9 Hold, 5 Sell

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    Up: 3 | Down: 5 | New: 17
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Deutsche Bank raised its price target on Buy-rated Thompson Creek Metals (NYSE: TC) from $16 to $18.

The firm said, "TC’s development of the Mt. Milligan copper-gold mine should reduce its single-product valuation discount.

The firm notes, given its single-product exposure to molybdenum (moly) in the near term, Thompson Creek's (TC) outlook is closely tied to the performance of this metal. We maintain a positive view for moly given demand from new applications, uncertain supply growth, and a shifting industry cost structure as higher-cost primary product accounts for a greater proportion of world output. DB expects moly price to continue rising till 2013 which should drive share price performance.

For more ratings news on Thompson Creek Metals click here and for the rating history of Thompson Creek Metals click here.

Shares of Thompson Creek Metals closed at $14.51 yesterday.

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