Dahlman Rose Downgrades Thompson Creek Metals (TC) to Hold; Increasing Capital Costs Cloud
Tweet
Share
E-mailGet Alerts TC Hot Sheet
Price: $2.07 -3.72%
Rating Summary:
1 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Dahlman Rose downgraded Thompson Creek Metals (NYSE: TC) from Buy to Hold.
Dahlman analyst says, "We like the move the company has made to get into copper and gold, but over the near-term earnings power and the company's ability to finance its funding gap will be predicated on the price of molybdenum. Given the substantial amount of supply that will be turning up over the next 3 - 4 years, we anticipate that molybdenum prices will be range bound between $15 - $17/lbs. Due to pricing pressures and the company's key growth vehicle experiencing cost overruns we see no compelling reason to recommend the shares at this juncture."
"We are revising our 2012 EPS estimate to $0.05 from $0.35, based on lower molybdenum price expectations. In addition, we are initiating 1Q12 and 2013 EPS estimates of ($0.10) and $0.20, respectively."
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 $7.36 yesterday.
Dahlman analyst says, "We like the move the company has made to get into copper and gold, but over the near-term earnings power and the company's ability to finance its funding gap will be predicated on the price of molybdenum. Given the substantial amount of supply that will be turning up over the next 3 - 4 years, we anticipate that molybdenum prices will be range bound between $15 - $17/lbs. Due to pricing pressures and the company's key growth vehicle experiencing cost overruns we see no compelling reason to recommend the shares at this juncture."
"We are revising our 2012 EPS estimate to $0.05 from $0.35, based on lower molybdenum price expectations. In addition, we are initiating 1Q12 and 2013 EPS estimates of ($0.10) and $0.20, respectively."
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 $7.36 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- DA Davidson Reiterates Buy Rating on Box, Inc. (BOX) on Secular Tailwinds for Demand
- CoStar Group acquires Zonda for $800M, adding new home data
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, DowngradesRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
